Minneapolis To Take Over, Rehab, Resell 141 Mostly Vacant Homes

In Minneapolis Minnesota, Minnesota Public Radio reports:

• Minneapolis Mayor RT Rybak says the city will take control of 141 mostly vacant rental homes on the Northside. A court-appointed receiver will manage the properties and work to rehab and resell them. The homes are associated with T.J. Waconia, a company the city is suing for mortgage fraud. The city's lawsuit accuses Waconia of buying homes, converting them to rental properties, collecting rent and then abandoning the properties.

For more, see City to acquire northside homes for rehab.

See also:

• Minneapolis Star Tribune: Minneapolis takes charge of T.J. Waconia homes in fraud case (TJ Waconia, sued by Minneapolis, was ordered to turn over 141 properties. The city wants to gain ownership, and may sell or rent them),
• Pioneer Press: Waconia's N. Mpls. homes get overseer (City sees ruling as victory in suit over mortgage fraud),
• Twin Cities Finance and Commerce: Judge appoints receiver for TJ Waconia's Minneapolis homes (Firm faces city suit, federal mail fraud charge),
• FOX-TV Channel 9: Judge Orders 141 North Minneapolis Properties to 3rd Party (Mpls neighborhoods filed lawsuit vs TJ Waconia over foreclosures).

Go here for other posts on the alleged TJ Waconia house flipping operation.