Items Tagged with 'Michigan'

ARTICLES

Lenders work to overcome Detroit's appraisal gap roadblock

The long road ahead for the Motor City
After the financial crisis, the Detroit housing market started a long uphill climb to get back to a healthy, sustainable market; an achievement the city is still currently trying to reach. However, lenders in the city are working to originate mortgages that work around some of the toughest roadblocks in Detroit and provide a path to homeownership. Here’s how they’re doing it.
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Hillary Clinton on CFPB: Why would you get rid of that?

Gives speech on her economic plan
In the same week and same state as Donald Trump, Hillary Clinton also revealed her economic plan. Included in her speech, she talked about bringing tax relief to small businesses and expanding regulation. Most notably, she questioned why anyone would want to disband the CFPB. Of course, she also made time to throw in a few jabs at Trump.
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Michigan plans $75M more fed funds to fight blight in Detroit, Flint

Plan to utilize increased Hardest Hit Fund allocation approved
The office of Michigan Gov. Rick Snyder announced the Treasury Department's approval of the Michigan State Housing Development Authority’s plan to utilize the $74.5 million allocated to the state as part of an expansion of the Hardest Hit Fund program, paving the way for increased foreclosure prevention and blight elimination efforts in the cities of Detroit and Flint.
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Cash sales on homes continue to decline

Account for 36% of all home sales
While the month-over-month share of cash sales increased from October to November 2015, annual shares were down. The largest percentage of cash sales were REO, and the state with the most cash sales was Michigan.
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Government officials create mortgage program to save Detroit

Overcomes appraisal gap problem
Government officials banded together to create a mortgage program solution that could significantly change the pace of Detroit’s slow housing recovery. The new program aims to give homeowners and homebuyers a better financial opportunity to buy and renovate a house in the city, creating a new key to rebuilding a city that has struggled to recover from the crisis.
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Flint water crisis now impacts mortgage lending

Lenders must prove homes have safe water
The severity of the Flint, Michigan, water crisis continues to plague residents, and now there are questions about whether people will be able to sell their homes if they want to, as their homes may not meet livability standards required for a mortgage.
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Here’s the latest update on Detroit’s housing recovery

The slow road toward recovery
Fixing Detroit’s housing market is a slow, intensive process that still has people divided on whether or not it even is recovering. So how is the city doing now? The Urban Institute published a new piece giving an update on the continued but uneven recovery in the city's housing market.
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HomeBridge hires two mortgage veterans

Will oversee newest branch location
HomeBridge added two mortgage industry veterans to oversee its newest location in East Lansing, Michigan. David Nichols and Kannon Kares join the lender as area manager and sales manager, respectively.
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