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Resource ID: #27127
Subject: Mortgages
Source: Detroit News
Affiliation: 
Date: June 25-26, July 1-2

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Description

This series investigated the impact of a decade of mortgage foreclosures on Detroit neighborhoods by tracking the fate of nearly 65,000 bank foreclosed homes. We found that subprime lending and bargain-basement sales of these homes contributed to a $500 million loss for the city in unpaid property taxes and demolition costs.

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