MILWAUKEE (WTAQ) - Milwaukee officials are making an effort to sell hundreds of vacant houses in the city that have been foreclosed upon.
They’ll be showcased next Saturday morning at a home ownership fair at Milwaukee’s Italian Community Center.
Suzanne Dennik, the city’s foreclosure consultant, says bank owns about 1,600 residential properties in which the previous owners failed to keep up with their mortgages. Another 730 properties are owned by the city for failures to pay taxes – three times the number of previous years.
Dennik says at least 4 of the houses will sell for as little as $5,000. But buyers will have to make energy renovations, and bring the buildings up to code.
In some cases, federal funds will be available to help cover the costs.