Authored by Ken LaMance, LegalMatch Law Library Managing Editor and Attorney at Law
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Oakland County has a population of about 1.2 million, and is a vital component of the Detroit metropolitan area. The city of Pontiac, which is home to many General Motors plants and the GM brand “Pontiac” itself, serves as the county seat of Oakland County.
Oakland County is a diverse mix of 62 townships, villages, and cities. For example, the blue-collar suburb of Ferndale sits close to Royal Oak, which is known for its trendy shopping and nightlife. Oakland County is the fourth most affluent county in the nation among counties with populations exceeding one million people. Auburn Hills and Bloomfield Hills are two of the better-known of these wealthy communities. Oakland University also lies in an upscale part of Oakland County, and is known for its nursing program and medical school.
Oakland County’s economy is largely driven by the engineering and auto industries, and is often termed “Automation Alley” as a result. The continuing downturn in domestic auto sales has had a negative impact on Oakland County, although it has not suffered as much as Detroit and Flint, whose economies are less diverse.
Recently, Oakland County’s Board of Commissioners unanimously voted to support Senate Bill 1390, which aims to help many Oakland County homeowners avoid foreclosure. It’s anticipated that up to 10,000 Oakland County homes will be foreclosed on in 2009. Bill 1390 would allow county registers to compute the amount of money a homeowner needs to redeem a foreclosed home, and to disseminate that information to the homeowner in a timely, low-cost manner. The majority of homeowners whose houses have been foreclosed have six months (even following a court-ordered sale) to redeem their home. However, owners who have enough money to redeem their homes during this period often don’t know exactly how much they need to pay the investor who bought their home. Some unsavory investors and lending institutions have charged homeowners up to $200 to calculate this fee, despite the fact that it only takes minutes to compute.
Do you need legal advice about foreclosure or bankruptcy? LegalMatch.com maintains a database of lawyers who specialize in many areas of law. Fill out a confidential survey, and a LegalMatch agent will match you with local Oakland County lawyers who are guaranteed to be pre-screened by LegalMatch and are qualified to handle your particular case.
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