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Michigan Foreclosures Archives - That Mortgage Banker Blog

Category: Michigan Foreclosures

New 3% Down Conventional Mortgage Programs

December 10, 2014 Marc Edelstein First Time Home Buyers, Michigan Foreclosures, Michigan Mortgage Banker, Michigan Mortgage Lender, Mortgage News, Mortgage Preapproval, Mortgage Tips, Oakland County Mortgage Banker, Oakland County Real Estate, Wayne County Mortgage Banker 0 Comments

Fannie Mae and Freddie Mac have recently announced that they will begin backing conventional mortgages with as little as 3% down. This puts conventional mortgages into a new arena which they have not been in for almost 5 years, namely, the low down payment space. Until the announcement on Monday, the lowest Fannie and Freddie […]

Can I Buy a House if I Had a Short Sale?

November 21, 2014 Marc Edelstein FHA mortgages in Michigan, Michigan Foreclosures, Michigan Mortgage Banker, Michigan Mortgage Lender, Mortgage Tips, Oakland County Mortgage Banker, Wayne County Mortgage Banker 0 Comments

On Tuesday, I wrote about what to do to buy a house after a foreclosure. I didn’t think to include anything in reference to buying a house after a short sale, but several people have already asked, so I figured I would address it here. Buying a house after a short sale is much like […]

Can I buy a House if I Had a Foreclosure?

November 18, 2014 Marc Edelstein FHA mortgages in Michigan, First Time Home Buyers, Michigan Foreclosures, Michigan Mortgage Banker, Michigan Mortgage Lender, Mortgage Preapproval, Oakland County Mortgage Banker, Wayne County Mortgage Banker 0 Comments

With everything that has happened over the last eight or nine years, an unfortunately common question is whether or not you can buy a house if you had a foreclosure in the not-too-distant past. There is a common misconception that any foreclosures mean you can’t buy a new house for seven years. And while it […]

Can I Get a Mortgage on a House I Plan to Flip?

October 21, 2014 Marc Edelstein FHA mortgages in Michigan, First Time Home Buyers, Michigan Foreclosures, Michigan Mortgage Banker, Michigan Mortgage Lender, Michigan Real Estate Tips, Mortgage Refinancing, Mortgage Tips, Oakland County Mortgage Banker, Wayne County Mortgage Banker 0 Comments

The market for house flipping has never been stronger. Even as house prices surge, more and more people are stepping into the house flipping game to make a quick buck. And as such, more and more clients are calling me to ask if they can finance a house they plan to flip. Now, in a […]

Forms for the Tax Assessor’s Office After Buying a House

September 10, 2014 Marc Edelstein FHA mortgages in Michigan, First Time Home Buyers, Michigan Foreclosures, Michigan Mortgage Banker, Michigan Mortgage Lender, Mortgage Tips, Oakland County Mortgage Banker, Wayne County Mortgage Banker 0 Comments

After you buy a house in Michigan, there is a lot that needs to be done. You need to set up utilities, figure out moving arrangements, childcare arrangements if you have kids, update your driver’s license, and so on. But there are two important forms which must be filed with the Tax Assessor’s Office that […]

Are Foreclosures Still a Viable Option in Michigan?

August 22, 2014 Marc Edelstein FHA mortgages in Michigan, First Time Home Buyers, Michigan Foreclosures, Michigan Mortgage Banker, Michigan Mortgage Lender, Michigan Real Estate Tips, Mortgage News, Mortgage Tips, Oakland County Mortgage Banker, Wayne County Mortgage Banker 0 Comments

The foreclosure inventory has waned over the last few years and the foreclosure price tags have come up. Where in 2010 or 2011 you could have purchased just about any Real Estate Owned home (foreclosure), it is now a much riskier gambit. This has led many of the talking heads to warn homebuyers of the […]

Things Every First Time Home Buyer Should Consider

June 10, 2014 Marc Edelstein FHA mortgages in Michigan, First Time Home Buyers, Michigan Foreclosures, Michigan Mortgage Banker, Michigan Mortgage Lender, Mortgage Tips, Oakland County Mortgage Banker, Wayne County Mortgage Banker 0 Comments

I know there are dozens of these lists available online, but I think it is important to discuss some of the most common problems I have seen first time home buyers run into, so that you can try to avoid them. There is nothing worse than getting a week to closing and having to drop […]

Did I Wait Too Long to Buy a House?

May 21, 2014 Marc Edelstein FHA mortgages in Michigan, First Time Home Buyers, Michigan Foreclosures, Michigan Mortgage Banker, Michigan Mortgage Lender, Michigan Real Estate Tips, Mortgage News, Oakland County Mortgage Banker, Oakland County Real Estate, Wayne County Mortgage Banker 0 Comments

We all know the housing market collapsed in 2008 and 2009. House prices plummeted and there were deals aplenty. And the deals remained through 2009, 2010, and 2011. Foreclosures and short sales were everywhere, and you could buy a house at less than half it’s original price. But then in 2012, the market started to […]

Home Renovation Mortgages

April 16, 2014 Marc Edelstein FHA mortgages in Michigan, First Time Home Buyers, Michigan Foreclosures, Michigan Mortgage Banker, Michigan Mortgage Lender, Mortgage Tips, Oakland County Mortgage Banker, Wayne County Mortgage Banker 0 Comments

When looking for a new home, it can be tempting to look for a “fixer upper.” These houses are usually offered at a steep discount, allow buyers to get into the neighborhood they want, and can offer some unique customization options. Aside from a custom built new home, these can be the best way to […]

How do I Calculate Income if I Filed an Extension on my Taxes?

March 14, 2014 Marc Edelstein FHA mortgages in Michigan, First Time Home Buyers, Michigan Foreclosures, Michigan Mortgage Banker, Michigan Mortgage Lender, Mortgage News, Mortgage Preapproval, Mortgage Refinancing, Mortgage Tips, Oakland County Mortgage Banker, Wayne County Mortgage Banker 0 Comments

There are a number of reasons why people declare extensions on their taxes, but I have found that it is most commonly done by small business owners who have very complicated returns due to multiple income streams and a number of different types of write offs. These people are often earning a nice living, own […]