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Motor City’s Foreclosure Payment Purgatory

first_imgSign up for DS News Daily Subscribe Related Articles in Daily Dose, Featured, Foreclosure, News Motor City’s Foreclosure Payment Purgatory Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post About Author: Seth Welborn Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Detroit tax foreclosure Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. center_img December 5, 2019 1,311 Views Home / Daily Dose / Motor City’s Foreclosure Payment Purgatory Despite programs aimed at reducing property tax foreclosures in the city, around one in four Detroit homeowners owes more in delinquent property taxes than they did three years ago, The Detroit News reports.Detroit’s plans included payment plans with lower interest rates and an extended five-year repayment deadline, however, the plans have kept thousands in a “payment plan purgatory” that likely will lead to the loss of their homes without more help.Though officials have praised the plan for keeping homeowners in their homes, and have reduced Detroit’s foreclosures from a record high 9,111 occupied homes in 2015 to 514 this year, many have found that the plans simply extend their deadline.”We are seeing the unintended consequences today,” former Wayne County Chief Deputy Treasurer David Szymanski told Detroit News. “We certainly didn’t want it to be a Band-Aid.”In a report earlier this year, Quicken Loans stated that, as of last year, 21% of homeowners were unaware their property was behind on property taxes, and another 61% of renters in tax-delinquent properties were unaware of the home’s tax status.According to the Quicken Loans, the efforts of the Quicken Loans Community Fund and its Neighbor to Neighbor partners led to 4,136 occupied homes being pulled from the Wayne County tax foreclosure auction.“As Detroit comes back, we need to do everything we can to make sure those who stayed in our city through good times and bad are able to stay in their homes,” Detroit Mayor Mike Duggan said. “We are seeing real progress in tax foreclosure reductions that impact all of our neighborhoods, and through programs like Neighbor to Neighbor, we will continue this important work in close partnership with the community.”Detroit is facing other foreclosure issues as well. The city still faces other foreclosure-related challenges. According to GOBankingRates and data from Zillow, 34.4% of homes are currently underwater, and the median home value at the Detroit-Warren-Dearborn metro-area level is $161,300, far below the national median of $226,300. GOBankingRates puts Detroit second on its list of U.S. cities most likely to enter a housing crisis. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Detroit tax foreclosure 2019-12-05 Seth Welborn Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Previous: GSE Reform: ‘Lots of Work Remains’ Next: Housing Insurers Made to Stay Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days agolast_img read more

Russia: Sevmash Shipyard Completes Preparation of SSBN Alexander Nevsky for Sea Trials

first_img View post tag: SSBN Russia: Sevmash Shipyard Completes Preparation of SSBN Alexander Nevsky for Sea Trials Sevmash shipyard (Severodvinsk) has completed preparation of the first serial Project 955 Borei nuclear-powered ballistic missile submarine (SSBN) Alexander Nevsky for sea trials, reports Interfax referring to Navy Main HQ. In the next few days the sub will take the White Sea for the first time.The sub’s crew was earlier formed under command of Capt 1 rank Vasily Tankovid; personnel has passed training course in Obninsk naval training center and probation period on SSBN Yury Dolgoruky.The decision to start sea trials of Project 955 first and second serial subs was made by Russian Navy command and Sevmash directors on Sept 30, 2011. Laid down in 2004 and launched in Dec 2010, SSBN Alexander Nevsky has already passed mooring trials. According to the source, while preparation for sea trials, the sub was degaussed, i.e. hull magnetization was reduced in order to protect from sea mines and to improve accuracy of onboard navigation equipment.SSBN Alexander Nevsky is built under modernized Project 955A which basically differs from Project 955 in larger number of SLBM Bulava launch tubes (from 16 to 20). At present, Sevmash shipyard constructs the third (second serial) Project 955 submarine SSBN Vladimir Monomakh. Besides, the yard prepares to lay down the fourth Borei-class sub – SSBN Svyatitel Nikolai.Having displacement of 24,000 tons, length 170 meters and beam 13.5 meters, Project 955 submarines are capable to move at up to 29 knots. Their endurance is 90 days. Apart from Bulava ballistic missiles, Borei-class subs are armed with six 533-mm torpedo tubes. In prospect, Bulava-armed Project 955 submarines are to become the core of Russia’s naval strategic nuclear shield.[mappress]Source: rusnavy, October 18, 2011 View post tag: sea View post tag: Navy View post tag: Alexander View post tag: of Industry news View post tag: completes Back to overview,Home naval-today Russia: Sevmash Shipyard Completes Preparation of SSBN Alexander Nevsky for Sea Trials View post tag: Preparation View post tag: News by topic View post tag: Russia View post tag: trials View post tag: Nevsky View post tag: Sevmash View post tag: For View post tag: shipyard View post tag: Naval October 18, 2011 Share this articlelast_img read more