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untanglingwebs
El Supremo
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The 2 biggest in Flint are both on S. Dort hwy-Elms Trailer Park and the self-storage site at 2325 S Dort.
What will the impact be on Flint and it's economy?
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6,600 properties in Genesee County have overdue taxes, headed to foreclosure
By Ron Fonger | Flint Journal
January 14, 2010, 5:00AM
Riverwood Development in Flint Township is the most valuable property headed into tax foreclosure by Genesee County. Hollyn Johnson | The Flint Journal
GENESEE COUNTY — A record number of owners are in danger of losing their homes. businesses and land to the county for failing to pay back taxes, including 19 properties worth at least $1 million.
The county will provide some of the last notices that those properties are sliding into foreclosure in an advertised notice in The Filnt Journal Thursday. Without a special exemption or paying off the 2007 taxes and penalties, the county is on schedule to foreclose on about 6,600 properties on March 31.
View full size"I can only hope (this is the bottom)," said Jamie Curtis, chairman of the county Board of Commissioners. "The only way out of this is to put people back to work ... It's all about the jobs."
Tax foreclosure is a double-whammy for local government, leaving taxpayers to maintain property that's been abandoned and taking privately held parcels at least temporarily off the tax rolls.
The foreclosure numbers this year are shocking in scope — up 46 percent compared to last year at this same time. County Chief Deputy Treasurer Jill McKenzie said even last year's numbers were a record, putting this year's numbers off the charts.
A Flint Township apartment complex — Riverwood Luxury Apartments — is the most valuable property on the foreclosure list followed by Dutch Mill mobile home park in Genesee Township and a strip shopping center in Vienna Township.
A spokesman for Riverwood said the property owner would have no comment on plans for the complex that was developed by the Pace Companies just seven years ago.
The future is no clearer at Dutch Village, which faced foreclosure in 2009 as well and is being managed by a court-appointed receiver as the original property owner attempts to take title of the property back after having sold it.
"I don't know what's going to happen," said John Breza, the court-appointed receiver. "Because of how poorly it's been operated, I'm not sure (the original owner) can come in and write a big check (for taxes) again."
Property owners can appeal to the county treasurer for a deferment. Those extensions to pay can be granted to individuals who are living in and own their home or to businesses. Individuals can call (810) 257-3059 for an appointment to request a deferment.
With just about 10 weeks before properties are lost to the county, officials at the county Land Bank are waiting for what is likely to be a flood of new parcels to manage.
Although the majority of property owners who are delinquent in their tax bills at this time of year end up paying before March 31 rather than losing their properties, officials are nervous about this year because of continuing high unemployment and weakness in the local economy.
"That's more properties to maintain," said Doug Weiland, executive director of the county Land Bank. Increasingly, properties lost for back taxes aren't vacant land but are home to run-down houses, increasing the expense of keeping buildings secure until there is money for rehabilitation or demolition.
What's worse, Weiland said there are no signs that this will be the last year with so many potential foreclosures. In Flint alone, there are about 10,000 vacant homes, he said, most of which remain in private hands.
"My guess is about 6,000 of those properties have been abandoned, then people stop paying taxes," and the parcels end up in the county's hands, Weiland said.
The Flint Journal could not immediately reach many high-value property owners for comment this week. A man who identified himself as manager of Flushing Valley Country Club said the property at 1124 E. Main St., Flushing, has recently been sold with the seller agreeing to pay the taxes owed.
SPCP Group of Greenwich, Conn., has been listed in county and court records as the owner of the property previously.
In Grand Blanc Township, officials expect back taxes to be paid on a building once occupied by Twin Corp. at 10456 N. Holly Road. A township official said the Twin location is expected to be part of an expansion by Magna Electronics. That expansion was announced just last month.
Among the properties that were among the highest-value parcels on last year's foreclosure list, a few are back in the same position this year, including Dutch Village, a Vienna Township shopping center on West Vienna Road and 14261 Torrey Road, Fenton Township, which has been home to Premier Indoor Sports. |
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Thu Jan 14, 2010 7:43 am |
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FlintCityMole
F L I N T O I D
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| I think for Genesee County this is only the begining. We will end up looking like Detroit City. |
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Thu Jan 14, 2010 10:29 am |
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Ryan Eashoo
F L I N T O I D
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If we want to fix our economy we need to do it first with the real estate industry. We need to keep people in the homes to stablize this market, why is the goverment not doing more? Why aren't we making this mortgage companies who created this problem work with home owners?
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Flint Michigan Resident, Tax Payer, Flint Nutt - Local REALTOR - Activist. www.FlintTown.com |
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Thu Jan 14, 2010 12:16 pm |
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Dave Starr
F L I N T O I D
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| If you mean giving mortgages to people that can't afford them, you'll have to talk to barney Frank about it. |
_________________
I used to care, but I take a pill for that now.
Pushing buttons sure can be fun.
When a lion wants to go somewhere, he doesn’t worry about how many hyenas are in the way.
Paddle faster, I hear banjos. |
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Thu Jan 14, 2010 1:03 pm |
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twotap
F L I N T O I D
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| Acorn clowns, Fannie mae, Freddie mac Execs and of course barney. They should all be in prison with Bernie Madoff. |
_________________
"If you like your current healthcare you can keep it, Period"!!
Barack Hussein Obama--- multiple times. |
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Thu Jan 14, 2010 1:29 pm |
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Adam
F L I N T O I D
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quote:
Ryan Eashoo schreef:
If we want to fix our economy we need to do it first with the real estate industry. We need to keep people in the homes to stablize this market, why is the goverment not doing more? Why aren't we making this mortgage companies who created this problem work with home owners?
Without jobs who can afford real estate? |
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Thu Jan 14, 2010 11:16 pm |
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FlintCityMole
F L I N T O I D
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I mean for example: A lady owns a house and is behind in her payments because she lost her job. She owes $58,000 on her home and can afford $425 a month but thats it. The mortgage company says " sorry hun you are behind on your payments and your new payment will be $689.00. She tells them she can't afford that amount but can pay $425.00 until she can get back on her feet. They tell her No! you pay $689.00 or we are kicking you out. So she gets kicked out and the bank takes the home. While the home is in control of the bank crack heads steal the coppper plumbing, furnace, hot water heater, the roof leaks and they end up selling the house for $1,600.00. ( Sixteen hundred dollars ). Then the bank had to pay REALTORS, $578 water bill to the city, $1800 in back taxes etc. The bank had to pay $7,000 out of their pocket just to close on this property.
This is terrible and shouldn't be tolerated. Why not keep this lady in her home, keep the neighborhood stable and let her pay $425? This lady would of stayed in her home for years to come, the market would of rebounded and the bank wouldn't of received such a huge loss on the home. This lady would of gladly gave the bank $1,600 for the home. This whole problem started with the banks and is continuing with the banks, the right hand doesn't know what the left hand is doing
Last edited by FlintCityMole on Fri Jan 15, 2010 10:26 am; edited 1 time in total |
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Fri Jan 15, 2010 9:57 am |
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untanglingwebs
El Supremo
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Excellent point mole!
Why isn't the city suing the mortgage companies and banks for leaving these homes abandoned.
Why isn't Walling addressing this issue instead of spending money trying to control block clubs and other organizations. |
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Fri Jan 15, 2010 10:15 am |
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Dave Starr
F L I N T O I D
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| I'm waiting patiently for them to try to control our block club. I don't think they'll have much success. |
_________________
I used to care, but I take a pill for that now.
Pushing buttons sure can be fun.
When a lion wants to go somewhere, he doesn’t worry about how many hyenas are in the way.
Paddle faster, I hear banjos. |
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Fri Jan 15, 2010 10:18 am |
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back again
F L I N T O I D
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| damn mole, that was a disgusting story...... |
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even a small act of goodness may be a tiny raft of salvation across the treacherous gulf of sin, but one who drinks the wine of selfishness, and dances on the little boat of meaness, sinks in the ocean of ignorance.
P.Y. |
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Fri Jan 15, 2010 3:09 pm |
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Ryan Eashoo
F L I N T O I D
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So instead of bitching about it people, what are some possible solutions to the problem?
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Flint Michigan Resident, Tax Payer, Flint Nutt - Local REALTOR - Activist. www.FlintTown.com |
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Sun Jan 17, 2010 5:37 pm |
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FlintBeerMan
F L I N T O I D
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what is your plan realur man?
quote:
Ryan Eashoo schreef:
So instead of bitching about it people, what are some possible solutions to the problem?
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Flint is a place where people live cause they can't afford any place else to live. |
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Sun Jan 17, 2010 6:38 pm |
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untanglingwebs
El Supremo
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Ryan- The plans to spend money and the districts toreceive them were made a long time ago. The ARRA money, unlike HUD dollars, do not require public hearings.
But you can bet certain council was privy to the decisions shown in the grant. |
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Sun Jan 17, 2010 11:11 pm |
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FlintBeerMan
F L I N T O I D
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| downtown will get it and carrige town |
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Flint is a place where people live cause they can't afford any place else to live. |
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Sun Jan 17, 2010 11:12 pm |
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untanglingwebs
El Supremo
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I think the 4 areas are Smith Village and the 3 CDC's :
Smith Village (Lawler, Ward 5)
Flint Park Lake(Poplar, Ward 2)
North East District.(Nolden?, Ward 3?) |
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Sun Jan 17, 2010 11:27 pm |
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