Inventory
info icon
Single family homes on the market. Updated weekly.Powered by Altos Research
722,032+456
30-yr Fixed Rate30-yr Fixed
info icon
30-Yr. Fixed Conforming. Updated hourly during market hours.
6.99%0.00
Servicing

Dearborn debates foreclosed home rehab program

Hopes to renovate 15 to 80 houses

[UPDATE 1: Clarifies relationships between the parties involved]

According to the Dearborn Press & Guide, the Dearborn Heights City Council listened to a housing renovation proposal from a potential private developer to file an application for 'community buyer' status with the Neighborhood Community Stabilization Trust (NCST) — the initiative would allow the applicants to help renovate 15 to 80 homes at no cost to the city. The publication has more on this:

“It was our intent that there was no liability, private capital, so we’re not putting any money in … we have a priority and they want to piggyback on that priority list so they can bid on some of the better homes as these things come on the market,” Mayor Daniel Paletko said.

“I look at the program as leveraging the private capital with the city’s priority to accomplish mutual goals,” he added. 

Most Popular Articles

Latest Articles

Lower mortgage rates attracting more homebuyers 

An often misguided premise I see on social media is that lower mortgage rates are doing nothing for housing demand. That’s ok — very few people are looking at the data without an agenda. However, the point of this tracker is to show you evidence that lower rates have already changed housing data. So, let’s […]

3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please