foreclosure

I have been hearing people saying lately that foreclosure is so common now that being foreclosed really doesn’t have the same negative impact on credit and borrowing ability as it used to. Can this be true? Absolutely not. This article is directed at those folks who are considering walking away from a property they own [...]

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Unfortunately, the number of people who owe more than their house is worth is increasing in Metro Detroit.  If you are staying in your house, you don’t have a pressing issue, though the new housing bill that is coming out on March 4th may provide you with some relief.  More on that later when the [...]

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Birmingham is certainly known for its upscale downtown, incredible restaurants and it’s wonderful neighborhoods.  We have pricey real estate here too, compared to much of the rest of the region. On Inauguration Day, I showed Birmingham’s only HUD home active in the MLS.  To date, there are have been few HUD homes in Birmingham, but [...]

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Any Realtor that has sold a short sale will warn you that the process is arduous for the buyer, the seller, the agents, and everyone else connected to the process. Right now the system works requires that the seller, who owes more than the value of the home, first find a qualified buyer before they [...]

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From the doom and gloom we are hearing around town these days, I bet most Michiganders would be surprised to know that RealtyTrac said we were 5th in foreclosures in November.  1 in 309 Michigan homes is in foreclosure, compared to the nation’s leader, Nevada, where 1 in 76 homes is in foreclosure. A few [...]

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Here’s a true story that tops my list of foreclosure experiences so far.  Unfortunately, the list is longer than I care to recall. Not so long ago Dmitry and I listed and sold a Birmingham foreclosure that had previously been owned by a builder who had tried to sell it for about $2,000,000.  He couldn’t [...]

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There has been so much talk this year about foreclosures and it seems like most people really don’t understand the foreclosure process.  There is also an alarming mindset right now in that a lot of people seem to be willing to just throw up there hands and say “I’ll just give it back to the [...]

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