Thursday, April 17, 2008

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:

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