May 20, 2013
MILWAUKEE (AP) -- The city of Milwaukee is holding a home ownership fair for people looking to buy foreclosed properties.
The city's foreclosure consultant, Suzanne Dennik, says four of the homes, and maybe more, will sell for as little as $5,000. But those buyers will have to do required energy renovations and make sure the houses are ultimately up to code. Federal funding is also available to help with the renovations.
She says there are about 1,600 bank-owned properties in the city and about 730 tax foreclosures owned by the city.
The fair will take place Saturday morning at The Italian Community Center in Milwaukee. Dennik says the city has tripled the number of houses they've had to take over because people didn't pay their taxes.
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