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The Tricycle Collective is using crowdfunding to help keep Detroiters in their homes. Courtesy photo.

We reported on Michele Oberholtzer’s fundraising initiative known as the Tricycle Collective early last month. The effort helps to keep 10 Detroit families in their homes by contributing $500 toward the purchase of the homes that were for sale in the Wayne County Tax-Foreclosure Auction.

Here’s an update. Of the nine homes that were won in the auction, five were purchased for the round two starting bid price of $500.  The other four homes were purchased with $500 as an addition to the money the residents were putting forth themselves.

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The stories of the residents who fought to win their houses in the auction were told on Oberholtzer’s blog. One of the residents who did not win their home, named Ruth Littleton, who was the only single resident in the bunch, donated the $500 she received to Portia, who was next on the tricycle collective waiting list, and Portia won her house in the auction.  Denise and Arleen both lost their houses in the second round, but re-bid on other unoccupied properties later on, Arleen was successful in purchasing a property.

With a successful first year the Tricycle Collective will be looking at pursuing status as a 501(c)3. Next year the foreclosure auction is estimated to be bigger than ever. We’ll be keeping you updated on this ongoing story.