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Macomb County MI Real estate

Macomb County MI real estate blog

Purchasing a HUD house in Macomb County MI – What does “repair escrow” mean?

February 16th, 2013 · No Comments · tips for home buyers, tips for purchasing a foreclosure

Even though the supply of foreclosures is finally going down in Macomb County, my buyers and I are still seeing new HUD homes come on the market each week.   If my buyers are FHA buyers with limited funds to bring to closing, there is something I watch out for diligently with these HUD homes:  A […]

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HUD homes in Macomb County – changes to incentives and a new website

March 14th, 2011 · No Comments · tips for home buyers, tips for purchasing a foreclosure

HUD has changed its asset manager in Michigan, as well as the incentives they used to offer. (Much of last year there was a $2500 bonus to HUD home buyers that could be used to help pay for their closing costs.)   This is no longer available, so anyone thinking of purchasing a HUD home in […]

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Making an offer on a HUD home? Here’s how to protect yourself before you close on it.

February 23rd, 2010 · No Comments · macomb county MI, tips for home buyers, tips for purchasing a foreclosure

A few days I wrote an article about the National Association of Realtors® taking a stance and adding to their Standards of Practice the verbage “don’t give out the lockbox code!”.   While reading and commenting it reminded me of something that is taking place with HUD owned homes:   The locks are re-keyed with the same […]

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HUD incentives ending in Michigan – February 12, 2010 is cut off date

January 31st, 2010 · No Comments · fha mortgages and first time home buyers, tips for home buyers, tips for purchasing a foreclosure

I knew it wouldn’t last forever, but I was kind of shocked to get the information in my email that the HUD incentives for Michigan are ending soon. As of February 12th of this year (yes, less than 2 weeks away) HUD is putting an end to the wonderful incentives that they’ve been offering for […]

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Another successful HUD home purchase in Clinton Township

December 6th, 2009 · No Comments · first time home buyers

Congratulations to Ashley, a single woman who purchased her first home. The home she bought was owned by HUD, and everything about the purchase process went smoothly. Unlike other bank or government owned homes, HUD has an online process for bidding. Everyone that bids knows when their offers to purchase will be considered, and it […]

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Answering a couple of reader questions about the 1st time home buyers tax credit

May 11th, 2009 · 1 Comment · Tax credit for first time home buyers in Macomb County MI, tips for home buyers, Up to $8000 1st time home buyers tax credit

This past week I received 3 email inquiries about the (up to) $8000 first time home buyers tax credit and even though I responded to the people who asked the questions via email, I realized that the questions they asked are ones that I’m sure many others have questions about. If I buy a HUD […]

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HUD and its $100 down program

January 6th, 2009 · No Comments · fha mortgages and first time home buyers, first time home buyers, macomb county mi real estate market, tips for purchasing a foreclosure

As it is with most mortgage programs and down payment assistance, there is much misinformation out there when it comes to the program details. HUD has a program for Michigan home buyers that allows for a $100 down payment when used with a FHA mortgage. A couple of important details with this program: You must […]

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Misinformation floating around the ‘net – Help from a local mortgage professional in Macomb County

June 18th, 2008 · No Comments · fha mortgages and first time home buyers

Within the past few days I have been reading many articles floating around the ‘net about HUDs latest announcement in regards to its 5 year old Anti-Flipping regulations. (In a nutshell, HUD would not insure any home mortgages in which the home had been purchased and flipped within 90 days of the new buyer purchasing […]

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Don’t let the new FHA guidelines frighten you.

May 27th, 2008 · No Comments · fha mortgages and first time home buyers, tips for home sellers

In the coming weeks we will probably be seeing much in the media about HUDs Federal Housing Administrations (FHA) new guidelines and pricing structure that is expected to go into effect on July 14th. I’ve already had calls from prospective buyers in our area who are worried that this will mean that the FHA mortgage […]

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Important copyright information: All photos were taken by Kris Wales. Do not copy and use photos for your own use, whether it be for personal or commercial purpose. All articles were written by Kris Wales. Once again, do not copy and use for your own purposes. Important disclaimer: Views expressed on the blog by the author and commenters do not express the views of Keller Williams Realty. All information contained is deemed to be reliable at the time of posting but not guaranteed.