Detroit remains an elusive city that the country can't seem to define. Is it destined to be the next greatest city in the country or is the city better left a wasteland? The next five years might be a game changer for it.
Detroit continues to stand out as a blip on the radar when it comes to America’s housing recovery, which should come as no surprise. And while the city does display some improvement, according to experts at Zillow, Detroit’s housing situation is not only stuck, it is deeply troubling.
The fight against residential blight isn't over in Michigan. The state is about to get an injection of federal funding to continue its efforts to clean up the neighborhoods that were the hardest hit by the economic downturn.
Detroit’s housing market was one of the most severely attacked during the financial crisis, leaving a wasteland of foreclosed and abandoned homes. But a new ruling might help give the city the extra boost it needs.
“Today’s action sends a clear and simple message, that quid pro quo agreements for real estate referrals are illegal,” said CFPB Director Richard Cordray. “The Consumer Bureau will continue to take action to ensure that the mortgage market is a level playing field where everyone plays by the rules.”
Dan Gilbert, the founder and chairman of Quicken Loans, is still pushing to save the city of Detroit. He's invested millions in the revitalization of Detroit's downtown area and the results of his efforts are having a real impact on the recovery of the city and on Quickens Loans' business too.
The darlings of 2014, the single-family housing investment and rental businesses, didn’t dominate like last year, but they still had a strong showing. After snagging four of the top five spots on the 2014 HW Fast50, two SFRs placed in the top five in 2015 and three made the top 50..
Bank loyalty is not a factor for borrowers in shopping for a mortgage loan. Borrowers tend to select a mortgage originator based on product, price and their expectation for a convenient transaction process. Read More