national settlement http://michiganradio.org en Detroit's 'Summer 2012 Demolition Plan' receives bank settlement funds http://michiganradio.org/post/detroits-summer-2012-demolition-plan-receives-bank-settlement-funds <p>The city of Detroit will receive $10 million of a statewide $25 million fund to counter blight in Michigan.</p><p>Last month, Detroit Mayor Dave Bing pledged to demolish 10,000 vacant buildings in the city by December 2013, the end of his four-year term.</p><p>The state funding comes during the mayor&#39;s &quot;Summer 2012 Demolition Plan,&quot; during which he plans to raze 1,500 buildings by this September.</p><p>Some of those buildings went down today. In a media advisory this morning, the Mayor&#39;s Office said,</p><blockquote><p><span style="FONT-FAMILY:Calibri"><font size="3">Four apartment buildings and another dangerous structure will be razed simultaneously Thursday morning in the Detroit Works Project Demonstration Area #3.</font></span></p></blockquote><p>The demolition funds come from the state&#39;s $97 million share of a national settlement with banks over faulty foreclosure processes.&nbsp; Yesterday, the Michigan house and senate voted on how to divvy up the money across state projects. Thu, 19 Jul 2012 16:10:35 +0000 Michigan Radio Newsroom 8352 at http://michiganradio.org Detroit's 'Summer 2012 Demolition Plan' receives bank settlement funds Michigan homeowners will have to wait to get their share of a national foreclosure settlement http://michiganradio.org/post/michigan-homeowners-will-have-wait-get-their-share-national-foreclosure-settlement <p>Michiganders hard hit by the foreclosure crisis might get some help thanks to a national settlement approved this week by a federal judge. &nbsp;&nbsp;&nbsp;&nbsp;But that help won&rsquo;t be coming immediately.</p><p>The $26 billion settlement involves 49 states, the District of Columbia and five of the largest mortgage lenders in the United States:&nbsp; Bank of America, Wells Fargo, J.P. Morgan Chase, Citibank and Ally Financial.&nbsp;</p> Fri, 06 Apr 2012 20:17:08 +0000 Steve Carmody 6943 at http://michiganradio.org Michigan homeowners will have to wait to get their share of a national foreclosure settlement