City adds two more houses to property portfolio
1598 Wyandotte was in foreclosure under two different previous owners.
1300 Andrews is surrounded by generally well-kept homes.
Aided by federal funds, the city recently purchased two more properties that had been in foreclosure. The houses will likely be rehabbed and resold.
The city paid $52,000 to LPS Asset Management Solutions and Morequity, Inc. for 1300 Andrews. The house went into foreclosure in July 2008 and was sold at sheriff’s auction a couple of weeks ago.
1598 Wyandotte, after falling into foreclosure once in 2006 and again in 2008 (each time with a different owner), is now in the city’s hands. It sold at sheriff’s sale in September to Fannie Mae, who turned it over to the city.
Legal update
The city will continue to acquire and repair or demolish properties throughout 2010. One of the next official acquisitions could be the vacant apartment building at 1482-1484 West 117th St.
Wilshire Credit Corporation was trying to stop the city from tearing down the building. It had been declared a nuisance. After the city successfully bid $55,000 for it at sheriff’s auction, Wilshire withdrew their court appeal.
Also withdrawing her court appeal is Victoria Greenleaf, co-owner of the house that once stood at 1570 Woodward. She was contesting the validity of the city’s appeals process. Her business partner, Peter Machlup, is also challenging the city’s actions. His case is still pending.
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