WEWS Townhall

Submitted by lmcshane on Sun, 11/25/2012 - 10:08.
11/29/2012 - 20:00
11/29/2012 - 21:30
Etc/GMT-5

Live broadcast 8-9:30 p.m. from Lincoln West High School.

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Vacant properties and Corelogic

The next wave?

http://www.cleveland.com/cuyahoga-county/index.ssf/2012/11/cuyahoga_county_tax_lien_sales_wins_over_skeptics.html

See comments to PDs pathetic whitewash story meant to cover for past tax lien sales under prior treasurer (Rokakis) and now under current treasurer (Sensenbrenner)

 

Contact Us

Richard Sensenbrenner
Cuyahoga County Treasurer
1219 Ontario Street
Cleveland, Ohio 44113

Phone Number: 216-443-7400
Fax Number: 216-443-7463
Email: TREASCOMMENT [at] cuyahogacounty [dot] us 

--these PD=GCP much touted tax lien sales pick up the properties with no mortgage liens, which are attractive to investors because the title is not complicated with a bank. 

 

When the title is complicated with a bank and existing mortgage--this outfit steps in:

http://investor.corelogic.com/

Properties under water in CLE are quietly being transferred through the original banks to Corelogic.  CDCs in the City of Cleveland are well aware of it. In many cases, the mortgages are almost paid off, but the original owners are not able to sell off the property for an amount that is anywhere near the original purchase price of the home.

This is the case with 3725 West 33rd St. in Brooklyn Centre.  Corelogic will most likely allow someone to pick up this property for the small existing balance of the mortgage.  Property can then be flipped to CMHA Section 8 rental for guaranteed income stream and no oversight whatsoever-heck no need to pay taxes on these properties after purchase (see Lucky Ogor).  All in a day ...here in Gotham City.

See how the investment strategy works--watch the whole podcast for tips on picking up RENTALS!!:

http://www.youtube.com/watch?v=35b4ZL2QL8o