Metro Detroit real estate mortgage fraud
I received a call from a young lady the other day. She said she had gone into a Detroit home being showed by a metro Detroit real estate agent. The buyer said it was a very nice home. She was calling …
Category: Mortgage & Credit Info
The Bank bailout and Metro Detroit
Here in Southeastern Michigan it doesn’t seem that the bank bailout is that important. None of our local Michigan banks have failed right? Unfortunately we need the bank bailout for the simple reason, that the banking industry will become stabilized. We need banks to …
Metro Detroit mortgage closing costs
When buying Metro Detroit real estate there will be closing costs. What do you mean? How much are these Metro Detroit closing costs? Well closing costs vary from lender to lender. There can be a huge variance in closing costs. …
Closing costs – appraisals
Metro Detroit mortgage closing costs. You are getting ready to buy a Metro Detroit home and you want to know about closing costs. It doesn’t matter whether it is a $50,000 Redford home or a $800,000 Northville home the bank …
Negative amortization loans – what are they?
I will be up front. I dislike negative amortization loans. They are only to be used by sophisticated borrowers. Don’t use them if you do not fully understand the loan. Many borrowers used them to refinance their Metro Detroit homes …