Mortgage Update: MI untold story...by Bob Waun
State of The Industry Report YE 2013
There are only 292 licensed mortgage companies left in Michigan, with 4,394 total licensed Mortgage Loan Officers (MLOs) - almost a quarter of these people work for Quicken Loans. 28 new mortgage licensee companies started in Michigan in 2013, and this includes divisions of existing companies ... Read More
Full disclosure: Before I was a realtor, I considered selling my home for sale by owner. At the time, a FSBO sale seemed to have some advantages. The economy was just coming out of a recession and I was eager to get the highest possible price for mine. Selling it on my own I figured I could at least save the realtor’s commission. Also, going FSBO put me in the driver’s seat, which I liked.
But ... Read More
Mortgage Update: by Bob Waun, Bankers Home Loan
What's wrong with an $18,000 loan?
We have recently had many referrals from CBWM for investment property loans. There are lending options for investors today, including renovation loans (203k) and others. But loans of less than $30,000 are challenging for (many) lenders, and investors are often shopping in these deep-value bargain ... Read More
I was walking around in one of my favorite Troy neighborhoods yesterday, knocking on doors and introducing myself to homeowners, and a woman I met said she was considering listing her home but thought it would be best to wait till spring.
"Really? Why?" I asked.
"Well, because the market's better then," she said.
I told her it's true that the market is busier then--there are a lot more buyers looking ... Read More
SOUTHEAST MICHIGAN Drop-off Locations:
Ann Arbor/Ypsilanti 877-810-2403
305 East Eisenhower, Suite 100, Ann Arbor, MI 48108.
Birmingham/Bloomfield Hills 888-450-8987
294 E. Brown Street, Birmingham, MI 48009.
Clarkston/Northern Oakland County 888-437-2042
7151 North Main Street, Clarkston, MI 48346.
Commerce/Farmington/West Bloomfield 888-431-7237
2600 ... Read More
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