Eileen's Blog

Beware of Tax Liens on Bank-Owned Homes!

October 6th, 2012 1:25 PM by Eileen Denhard

Oakland County, Wayne and Ingham County Freddie Mac, Fannie Mae, HUD, Flagstar, And Other Financial Company Owned Homes targeted by State.

The State of Michigan has attached liens to Freddie Mac, Fannie Mae, HUD, and other REO properties in Oakland County. Over a year ago, the State of Michigan started filing Principal Resident Exemptions (PRE) Tax Liens against Freddie Mac, Fannie Mae and other servicers for non-payment of taxes for various PRE denials throughout the state. Last week, one of the few underwriters in Michigan that had been providing title insurance on these properties, gave notice that it would no longer insure over these tax liens. The State now has liens on properties in Oakland, Ingham and Jackson counties. The liens are not property specific and the State Treasury wants the entire lien paid before they will release the liens from the individual properties.*

Posted in:General
Posted by Eileen Denhard on October 6th, 2012 1:25 PM



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