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Say What? Investor Buys All 650 Tax Foreclosed Homes in Macomb County at Auction

August 02, 2012, 6:42 AM

One thing for sure: Bill McMachen will never be homeless. At least not for now.

Fox2 reports that the former yacht dealer and former owner of the McRay Harbor, snatched up all 650 tax foreclosed properties in Macomb County at an auction Tuesday for $4.8 million, the amount due for outstanding taxes. It was the first time anyone had ever done that in Macomb County, the station reported.

The station reports that McMachen plans to sell most of the properties and donate others to charitable organizations that he can't sell. He also expects to make a profit, the station reported.

Not everyone was happy. The station reported some people were mad that they never got a chance to bid on the properties.


Read more:  Fox2


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