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Many people have the misconception that to qualify for the Home Affordable Refinance Program they must contact their current servicer to refinance when they are underwater. This is not the case. While your current servicer or bank may be able to offer one option to drop your payment, many times they do not offer the… Read more »
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Michigan HARP Lenders
Many homeowners are dealing with the reality of their home now being worth much less than what they currently owe on their mortgage. Unfortunately there aren’t a lot of options to help homeowners who are facing this problem, but luckily the HARP program was created. While there may not be many HARP lenders in Michigan,… Read more »
HARP 3.0 | Responsible Homeowner Refinancing Act
The Home Affordable Refinance Program or HARP has been utilized by many homeowners who were underwater on their mortgage. It allowed them to refinance their home regardless of the loan-to-value (LTV) ratio in most circumstances. Recently, two U.S.Senators reintroduced a bill that would extend the guidelines and reduce fees even more. The new bill was… Read more »
Quick Home Improvement Tips
If you’re looking to do some home improvements that won’t blow your budget, there are many low cost and easy remodeling tips to try. Before starting on any projects, ask yourself why you want to remodel. Do you plan on living in your home for several more years or are you looking to increase the… Read more »
Should I refinance? How does a refinance work?
Are you thinking about refinancing? Chances are if you have not refinanced in the last year, you could be missing out on some significant financial savings on your mortgage payments. Interest rates are at record lows and there’s a good chance we won’t see them any lower in the future. Not only are the rates… Read more »
Citi Enters the Rental Business
The mega-bank Citi has announced plans to get into the rental business. The bank kicked off a great new program this past Wednesday to rent out 500 homes to homeowners who are having difficulty paying their mortgage. Instead of putting the loans into foreclosure and kicking the owners out, the homeowners may be offered the… Read more »
Should I get a FHA Loan or Conventional Loan?
When it comes to FHA home loans, there are many differences and advantages when compared side by side to conventional home loans. Starting with the most basic aspect of purchasing a home, FHA loans are different from conventional loans in that the down payment is much less. Down payment requirements for FHA home loans start… Read more »
Tips for Cheap Closing Costs for Buying a Home
Being a homeowner can be an expensive investment which is why it is so important to get cheap closing costs when buying a home. With the current prices of homes in Michigan at the lowest points in years, many people are taking advantage of the economic downturn and becoming home owners. The price of the… Read more »