Tuesday, February 3, 2009

Foreclosures end in Detroit

Wayne County's Sheriff Warren Evans says that his office will no longer take part in mortgage foreclosures in his county (which includes the city of Detroit)

Sheriff Evans says that he hopes by doing this he can get the banks to renegotiate the terms of the loans they have with people facing foreclosure and they can workout a payment plan that will allow people to keep their homes.

Evans says that the foreclosures are costing his distract to much money, even though the Sheriff's office makes $50 for every home they sell in foreclosure ($1 million in revunes)

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