Mortgages....Homes in all price Ranges....Fraud...Lawsuits... Michigan News

 
The Detroit Free Press has spent the last few Sundays presenting a great series:
...a series on just what is available in the Metro Area Home / Housing markets
...a series that started with the $100,000-$199,000. & $200,000 - $299,000.
...a series that  on 25 July, 2010 seems to have concluded with the $300,000 - $499,999. price range, and
...a series that on an  inside page [2 E] covers the $500,000 or more range.

This was a wonderful series where reporting took the high road and listed Homes from the Metro Areas [Macomb, Oakland, Detroit were the general areas presented] a wide area; a good presentation of Styles, Sizes, & availability.
The series was found in the real estate section of the Free Press;
The author is Greta Guest.
The series can be found at : www.freep.com  Business section / Sunday editions during July 2010.
The series is a worthwhile  study of just what is out there-Here-in our area.
The series is a hopeful investigation of actual Home Sales within these price ranges.
The series is worth the time it may take to research through the Free Press.
Congrats to the FREEP.

On a less happy side of Michigan Mortgages, we have the Macomb Daily's front page story --25 July, 2010--
that speaks to the darker-side of the picture.  See; www.macombdaily.com / Saturday 24 July, 2010 / Sec. A/ pg 1 A /
Article by Jameson Cook "Hundreds of mortgage fraud lawsuits planned".
...over the past months, the indications of such frauds cases being here in the Metro Area has been referenced. This story speaks to the organization--Michigan Loan Compliance Advisory Group, Inc--located in Troy, where officials state that there will be more lawsuits up to 1,000 more cases to be added to the 88 plaintiffs already in the system. 
They state that the pending cases in Macomb, Oakland & Wayne Counties were filed in the state Circuit Court, but have been moved to US Circuit court in Detroit.  

In order to grasp the full impact of this story, see: www.macombdaily.com  that is listed above. The article goes into the full story-to date- and needs to be studied as it is presented here in the paper.
 Mr. J. Cook does an in-depth presentation of a situation that will be on-going in the court system.
It is a story that may take many months to play out.
 It is a story that Homeowners need to understand; that we as Professionals [within the Real Estate Field,  Mortgage, Lenders, Lawyers] who work within the Housing Markets need to be aware.  

We know that there are some not-so-good things happening out there in the realm of home ownership.

We also know that MOST of those Professionals are ethical, educated, & hard-working individuals.  
 
We need to stress that if You are a prospective Client, YOU can trust the vast majority of Realtors[R], and others in related  Professions dealing with Home ownership--Mortgage Brokers  / Agents;  private Lenders; Inspectors, Appraisers, & RE  Attorneys.

Ethical & Trustful individuals make up, I would venture to say, 98% of those who work within these fields.

Each Professional Group within the Home Ownership Process has their own methods of testing & checking on each individual within the group. 

When reading of the 'bad situations',. the  'lawsuits', the individuals who were or allowed themselves to be misled, 
know that most out there are not in the Business of 'taking advantage of YOU'.

Do Not be afraid of taking the steps necessary for Home Ownership;
Do your homework;
Do your personal research;
Do your organizational steps in financing, credit, & arriving at down-payment realities.

Macomb, Oakland, & Wayne Counties-known as the Detroit Metro-Area--offer various Houses just waiting for you
to make one your Home.
Come along and begin your journey to Home Ownership.