Items Tagged with 'Michigan housing'


  • Homebuilder M/I Homes buying Detroit builder Pinnacle Homes

    M/I Homes expanding into Detroit
    M/I Homes, a homebuilder with operations in Ohio, Indiana, Illinois, Minnesota, Florida, Texas, North Carolina, Virginia, and Maryland, is expanding into Michigan by acquiring Pinnacle Homes, a Detroit-based homebuilder. According to information provided by the companies, Pinnacle currently controls more than 1,000 home sites and delivered 214 homes in 2017 in the Detroit area.
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  • Flagstar rolls out zero-down mortgage with closing cost aid for low-income borrowers

    Bank will also provide up to $3,500 for closing costs
    Flagstar Bank is targeting low- to moderate-income borrowers with a mortgage offer that’s seemingly too good to be true. The program, which Flagstar introduced earlier this week, requires no down payment from the borrower and also provides the borrower with closing cost assistance. Here are the details.
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  • Former Michigan housing commission exec admits to stealing Section 8 funds

    Also admits to embezzling funds from commission’s operating budget
    The former executive director of an affordable housing commission in Michigan admitted in court this week to stealing more than $336,000 in federal funds, including $162,000 that was meant for the Section 8 housing program. Additionally, Lorena Loren admitted to using the commission’s two credit cards to make unauthorized purchases of personal items for herself and relatives from Amazon, Walmart and Sam’s Club stores, to the total of $166,000.
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  • SEC accuses Michigan pastor of leading $6.7 million real estate fraud scheme

    Allegedly targeted church members, retirees, and laid-off auto workers
    A Michigan pastor allegedly bilked church members, retirees, and laid-off autoworkers out of millions of dollars by convincing them to invest in a “successful” real estate scheme, the Securities and Exchange Commission said last week. All told, the SEC is charging Larry Holley, the pastor of Abundant Life Ministries in Flint, with defrauding approximately $6.7 million from more than 80 investors.
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