In recent months, a firestorm of sorts has brewed over the imminent foreclosure of nearly 62,000 homes in Detroit, a record number that includes a significant amount of homeowners who are three years behind on their taxes
This is a problem.
Lawmakers have considered provisions to address some of the chief issues
driving this — for example, under state law, county treasurers assess an 18 percent interest on homeowners with delinquent property taxes.
Understanding the mechanics behind property taxes, foreclosures, evictions, etc., can get incredibly confusing for the layman. Even with in-depth reporting in recent months, the issue continues to develop every day; it simply requires a serious amount of attention. But thanks to the do-gooders at Loveland Technologies, there's now an 18-minute crash course video explaining what's the implications of this oncoming tidal wave of foreclosures
Titled, "A Hurricane Without WAter: Detroit Property Tax Foreclosure, 2015," Loveland's chief product officer, Alex Alsup, takes viewers through a helpful explainer of an awfully complicated situation. On this warmer-than-as-of-late Sunday, it's worth your time. Have a look below.