80 Detroit area properties to be offered at FDIC auction
Published August 26th, 2008
J. P. King Auction Company, will manage the Federal Deposit Insurance Corporation’s (FDIC) auction of foreclosed property in Detroit, Michigan on September 30, 2008, 2 p.m. at the Rock Financial Showplace. J. P. King’s Asset Auctions Division will auction 83 foreclosed properties.
The properties range in value from as low as $ 2,500 to a spectacular Grosse Pointe home last listed at more than $ 1.3 million. Properties include single family residencies, duplexes, triplexes, quadplexes, commercial and land in the counties of Wayne, Jackson, Oakland, Eaton, Genesse, Tuscola and Lenawee.
“We are pleased to have been selected by the FDIC for this real estate auction,” said Craig King, president & CEO of J. P. King Auction Company. “We will assist the FDIC by returning these properties to the private sector.”
Properties will be open for inspection at designated times during the weeks leading up to the auction, which will be posted on www.jpking.com. Individuals interested in information about the upcoming auction may contact J. P. King’s Asset Auctions Division at 800.558.5464 or visit the company’s web site. Online bidding will be available and interested participants can visit the website for additional information.
Federal Deposit Insurance Corporation (FDIC)
Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation’s banking system. The FDIC insures deposits at the nation’s 8,494 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars – insured financial institutions fund its operations.
Related Articles
