foreclosure: Michigan - Governor Snyder signs new Principal Residence Exemption law change May 2012
- 05/03/12 11:20 PM
Michigan - Governor Snyder signs new Principal Residence Exemption law (also called Homestead Tax Exemption) change May 2012 This is great news for home buyers in Michigan! Previously, if you purchased a home in Michigan, there was a May 1st yearly deadline to claim the Principal Residence Exemption (approximately 40% property tax savings yearly). The new filing deadlines are June 1st and also November 1st. What this means for homebuyers, is that the amount of taxes escrowed into your mortgage may be greatly reduced, giving you a lower monthly mortgage payment. Additionally, the new law allows foreclosing lenders to keep the … (0 comments)
foreclosure: "No one told us we could do that!" Foreclosure Diaries - Big Rapids, Michigan - New Redemption Period Law
- 04/21/12 03:12 AM
"No one told us we could do that!" Foreclosure Diaries - Big Rapids, Michigan - New Redemption Period Law My heart is breaking once again for the "underwater" homeowners about to lose their home. In the State of Michigan, due to a new law that went into effect December, 2011, most homeowners now have only a six month redemption period to buy back their home after it has went to sheriff's sale, IF YOU ARE STILL LIVING IN THE HOME. The new law (MCL.600.3240) states that if on the date of the foreclosure notice the amount owed is more than … (1 comments)
foreclosure: Osceola County, Michigan Short Sale & Foreclosure Specialist - May I Help You?
- 04/17/10 03:05 PM
If you are facing the possibility of getting behind on your payments, and are in danger of having your home mortgage foreclosed on, don't wait to contact a Short Sales & Foreclosure Specialist in your area. Is your home located in the Reed City, Michigan area, or surrounding Mecosta, Newaygo, Osceola or Montcalm Counties? I would be happy to discuss your options. I am specially trained in Short Sales and Foreclosures and am certified with the National Association of Realtors, with the SFR designation. Find out now what you may be able to do to avoid foreclosure. Friendly, no obligation, consultation. … (0 comments)
foreclosure: Short Sales in Newaygo County Michigan - The Wave of the Future?
- 04/17/10 03:01 PM
Many sources have reported that the trend for the near future will be increased short sales as more home owners have trouble keeping up with their mortgage payments. Is your home located in the Newaygo, White Cloud, or Croton-Hardy Michigan area? I would be glad to discuss your options with you, and am certified with the National Association of Realtors, with the SFR designation. Friendly consultation, no pressure! … (0 comments)
foreclosure: For Homeowners in Mecosta County, Michigan - What is a Short Sale?
- 04/17/10 02:57 PM
A 'short sale' happens when a bank agrees to allow a home to be sold to a buyer who offering less than the actual amount owed on the mortgage. This is the quick definition, as there are many factors which come into question, such as: Is there a second (or third) mortgage, or home equity loan to complicate the sale? Is the seller already falling behind in payments? Are there other options for the seller through programs to help them stay in the home? Don't hesitate to seek help if you think that your mortgage payments will be a problem soon. If your … (0 comments)
foreclosure: Michigan Buyers - HUD incentives expire 2/12/2010 !
- 02/02/10 10:13 AM
Michelson, Connor & Boul, the attorney firm that handles all HUD Foreclosures in Michigan, issued the announcement of the end of HUD incentives in Michigan. If your offer has not been accepted on a HUD foreclosure by 02/12/2010, you will not be eligible for the incentive. See the announcement at: http://www.mcbreo.com/michigan/miannouce.htm Michigan Announcements ***EXPIRATION OF OWNER OCCUPANT SALES INCENTIVES *** The following HUD Owner Occupant incentives will expire as of February 12, 2010: FHA $100 Down Sales Incentive $2,500 Owner Occupant Sales Incentive (For properties with a purchase price of $25,000 or greater) $500 Broker Bonus for Owner Occupant Sales … (0 comments)
foreclosure: Home buyer - Looking for a Land Contract in Big Rapids, Mecosta County, Michigan?
- 12/04/09 08:22 AM
If you are interested in purchasing a home on a Land Contract in Big Rapids or the surrounding Mecosta County area, there are investors who are interested in selling homes this way. It used to be, you needed approximately 10% down payment to buy on a land contract. Right now, if you purchase before next April 30th, there may be investors willing to sell you a home on land contract with very little down initially. Because of the Homebuyer Tax Credit, some investors will write into the contract that you owe them a balloon payment on a specific date, when it is expected that you will … (0 comments)
foreclosure: Let's Pro-rate the Michigan "Homestead" tax for ALL buyers, all year!
- 07/24/08 11:25 AM
Need more buyers? You can truly help effect change! Buyers who purchase a home in Michigan after May 1st are currently stuck with whatever property tax designation is on the home at the time of the closing. Michigan Realtors can help more people buy homes by supporting bill HB 5334. Let's start a grassroots action to get this passed! More business for Realtors is a great side bonus! There is a bill introduced in the Michigan House - HB 5334, which would remove the deadline to file for an exemption (which saves around 45% on property taxes). It would be changed to pro-rate … (1 comments)
foreclosure: Questions on Property Taxes in Michigan
- 07/20/08 12:54 PM
Lynn's Frequently Asked Questions from home owners about property taxes in Michigan. I am posting this so there is an easily accessible search. Please feel free to add comments on questions from clients, or ask questions if you are a Michigan home buyer or seller. Answers Copyright 2008, By Lynn Afton, Realtor, (and former Board of Review member for 4 years) (Note: I am not an attorney, and this is for informational, not legal purposes. Contact a real estate attorney if you have legal questions or concerns). All information subject to changes, and your township or city may have a different … (3 comments)
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Welcome to Lynn's Blog where you will find Real estate related information, including homes for sale.
Serving Big Rapids, Michigan, and the area counties of Mecosta, Newaygo, Osceola, Lake, Montcalm & Kent County
Michigan - Governor Snyder signs new Principal Residence Exemption law (also called Homestead Tax Exemption) change May 2012 This is great news for home buyers in Michigan! Previously, if you purchased a home in Michigan, there was a May 1st yearly deadline to claim the Principal Residence Exemption (approximately 40% property tax savings yearly). The new filing deadlines are June 1st and also November 1st. What this means for homebuyers, is that the amount of taxes escrowed into your mortgage may be greatly reduced, giving you a lower monthly mortgage payment. Additionally, the new law allows foreclosing lenders to keep the … (0 comments)
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