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Eaton County treasurer warns foreclosure fund could be strained if Supreme Court sides with fair‑market valuation
Summary
Treasurer Darius Reyna told the Ways & Means Committee that class‑action and opt‑out claims stemming from pre‑2020 foreclosures total roughly $1.37 million now, and a pending U.S. Supreme Court case could raise potential liability over $4 million in a worst‑case estimate, exceeding current foreclosure fund balances.
Treasurer Darius Reyna updated the Eaton County Ways & Means Committee on December 12 on efforts to return foreclosure‑sale proceeds to former owners and on possible legal exposure from recent and pending litigation.
Reyna said the county’s foreclosure fund (kept separate from the general fund) has a balance a little over $2.0 million and that claims tied to foreclosure sales from 2016–2019 (combined into class actions) produced an estimated worst‑case exposure of about $1,071,000. He added three opt‑out cases for Eaton County recently received a court order…
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