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michigan foreclosures: Foreclosure: What To Do If You are Facing It - 02/05/08 10:20 AM
There is a lot of misinformation and frustration in the foreclosure process.  I hope the following information and links will help you better understand what is happening to you and how you can better communicate to your lender.   
"Foreclosure is a legal process by which a bank, mortgage company or other creditor takes a homeowner's property in order to satisfy a debt. The foreclosure is the result of non-payment of the mortgage (including second mortgages and home equity loans); however, people also lose their homes due to unpaid property taxes. As a result of the foreclosure (at the end of the redemption period), … (4 comments)

michigan foreclosures: The Key to Rising Home Prices - 01/08/08 03:30 PM
Higher Demand or Lower Supplies = Increased Prices
It's a basic economic principle that when supply increases, prices come down.
And, when supply decreases, demand can rise and prices will rise with demand.   (a good resource is Basic Economics, by Thomas Sowell)
As Banks take over more and more properties in Mid-Michigan they will seek to sell them as fast as they can at what ever price they can get. This increased supply with low demand has slowed our current housing market. It will continue to slow down, until we see one of two things happen: Either demand rises (job creation - an … (2 comments)

 

Evan Vanderwey, The Cashflow Coach

Okemos, MI

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