Tag Archives: foreclosed

Detroit to Auction Landmark Lafayette Towers

One of Detroit's landmarks, the Lafayette Towers, has been foreclosed and is set to be auctioned.

Detroit has seen some miserable times since giving a chance to Kwame Kilpatrick.  But its whoas didn’t really start with him.  The city began to decline with Dennis Archer and the selling off of the downtown area.  As soon as Mayor Coleman Young was forced to hand over the reins of the city to Archer the outside developers moved in overnight and so did casino after casino. The multiple casinos, in my opinion, began to inadvertently drain the resources of the community.

But one major deal that’s gone south in the city is the properties sold to the Northern Group Inc. back in 2005 (during Kwame’s administration).  According to the Detroit News, the New York based company bought three major downtown properties: Penobscot Building, Lafayette Towers and the Alden Park Towers apartments on East Jefferson.  Now, Lafayette Towers has been foreclosed and is set to be auctioned next week, July 18. Continue reading

Historic Church Faces Foreclosure

Flat Rock Community Church

Dekalb County has been home to Flat Rock Community Church for 150 years.  The history of this place of worship extends into the days of slavery, yet there isn’t any protection over the historic home to keep it from being foreclosed by banks and leaving its worshippers on the streets to find someplace else to go.  Continue reading

The Wealthy are so ‘Ghetto’…Now They Live there Too

So many things we are seeing turned upside down in the stratosphere is exemplary of biblical references.  The lamb will be able to lie down beside the lion, the ocean will die, and the wealthy of the world will become its poor.  The last one is the scariest.  No one more ruthless than the rich man made poor.  He will stop at nothing to keep what he had (look at Dan Gilbert and the letter he wrote to the fans).  Yes, a lot of the wealthy got that way because they were willing to do whatever it takes to gain their fortune.  But now these fortunes are drying up and mansions are left all over the place like a trail of children’s toys littering the house. Continue reading