Foreign real estate investors are often shocked by the low price tags on houses in the industrial midwest. Australian news shows have recently featured segments on homes in Detroit that are selling for $1,000 or less, and even Americans are shocked that the average price on a home in Detroit has fallen to an astonishing $18,000.
More on South Bend Indiana Joins Dumped Foreclosure Epidemic
Cleveland resident Sharon Little had to file for bankruptcy in 2006.
As part of the bankruptcy, Little gave back her rental property to the (unnamed) bank that financed it, or at least she thought she did. But nearly three years later, Little began to receive bills from the city for damage to her vacant former home.
More on U.S. Banks Refusing to Take Homes When Buyers Default
