foreclosure http://michiganradio.org en Michigan's real estate industry should see more improvement in 2014 http://michiganradio.org/post/michigans-real-estate-industry-should-see-more-improvement-2014 <p>Michigan is starting 2014 with its housing market in better shape than it’s been in in years.</p><p></p><p>The number of new home foreclosures is actually smaller than it was in 2006, before the recession began. Home prices are also improving.</p><p></p><p>But Daren Bloomquist with Realty Trac says there are still many Michigan homeowners who owe more on their mortgages than their homes are worth. He says 2014 may finally turn that around.</p><p></p> Sat, 04 Jan 2014 21:20:00 +0000 Steve Carmody 15879 at http://michiganradio.org Michigan's real estate industry should see more improvement in 2014 Michigan home buyers might be the next to feel the pinch of the federal government shutdown http://michiganradio.org/post/michigan-home-buyers-might-be-next-feel-pinch-federal-government-shutdown <p>The federal government shutdown could soon start affecting Michigan&rsquo;s real estate industry.</p><p>The problem is government agencies that verify the identities and tax returns of people taking out mortgages are closed by the shutdown. That means banks and mortgage companies are unable to finish their paperwork on home loans.</p> Mon, 07 Oct 2013 13:04:00 +0000 Steve Carmody 14737 at http://michiganradio.org Michigan home buyers might be the next to feel the pinch of the federal government shutdown More Michigan homeowners are underwater on their mortgages http://michiganradio.org/post/more-michigan-homeowners-are-underwater-their-mortgages <p>Michigan homeowners continue to struggle with underwater mortgages.</p><p></p><p>Realty Trac reports today that 38% of Michigan homeowners owe at least 25% more on their mortgages than their homes are actually worth.</p><p></p><p>Michigan trails only Nevada, Illinois and Florida for the percentage of home mortgages that are deeply underwater.</p><p>Realty Trac’s Daren Bloomquist says more homeowners in those states may be underwater on their mortgages, but home values are also rising faster than in Michigan.</p> Thu, 05 Sep 2013 04:52:00 +0000 Steve Carmody 14273 at http://michiganradio.org More Michigan homeowners are underwater on their mortgages Anti-foreclosure funds will raze thousands of homes in Detroit, 4 other Michigan cities http://michiganradio.org/post/anti-foreclosure-funds-will-raze-thousands-homes-detroit-4-other-michigan-cities <p><span style="line-height: 1.5;"><a href="http://www.detroitnews.com/article/20130826/METRO01/308260078/Snyder-officials-launch-52M-blight-removal-program-Detroit?odyssey=tab|topnews|text|FRONTPAGE">Thousands of vacant homes will come down in five Michigan cities</a>, thanks to a diversion of federal money.</span></p><p>The first blighted homes demolished in the $100 million effort came down in the Marygrove neighborhood on Detroit’s west side Monday.</p> Tue, 27 Aug 2013 00:42:53 +0000 Sarah Cwiek 14147 at http://michiganradio.org Anti-foreclosure funds will raze thousands of homes in Detroit, 4 other Michigan cities Michigan's home foreclosure rate continues to fall http://michiganradio.org/post/michigans-home-foreclosure-rate-continues-fall <p></p><p>Michigan’s home foreclosure rate is tumbling. The rate of home foreclosure filings in Michigan is half of what it was six months ago.&nbsp;</p><p>June marked the 32nd consecutive month of “year-over-year” declines in the number of home foreclosure filings in Michigan.</p><p>Daren Blomquist is with RealtyTrac.&nbsp; He expects that trend will continue.</p><p>“We’ll see the declines continue at least through the end of this year,” says Blomquist, “But then I would expect in 2014 that’s probably when we’ll see the numbers flatten out.”</p> Thu, 11 Jul 2013 04:59:00 +0000 Steve Carmody 13476 at http://michiganradio.org Michigan's home foreclosure rate continues to fall Michigan's governor signs foreclosure law changes http://michiganradio.org/post/michigans-governor-signs-foreclosure-law-changes <p>LANSING, Mich. (AP) - Governor Rick Snyder has signed into law changes in Michigan's home foreclosure rules but is calling on lawmakers to swiftly enact more legislation to clarify some issues.<br><br>Bills signed Wednesday keep intact the redemption period when homeowners can challenge a foreclosure's legality. An earlier version of the legislation would have reduced the period from 6 months to 60 days.<br> Thu, 04 Jul 2013 14:27:00 +0000 The Associated Press 13382 at http://michiganradio.org Michigan's governor signs foreclosure law changes Proposed changes to Michigan’s home foreclosure laws allow unannounced inspections http://michiganradio.org/post/proposed-changes-michigan-s-home-foreclosure-laws-allow-unannounced-inspections <p>Housing advocates are asking Governor Rick Snyder to veto a <a href="http://www.legislature.mi.gov/(S(rmhgbm3wr0tlbpmqchqs5omv))/mileg.aspx?page=getObject&amp;objectName=2013-SB-0383">package of bills </a>that would change home foreclosure rules.</p> Mon, 24 Jun 2013 15:05:40 +0000 Lindsey Smith 13197 at http://michiganradio.org Proposed changes to Michigan’s home foreclosure laws allow unannounced inspections Michigan home builders have trouble finding skilled workers http://michiganradio.org/post/michigan-home-builders-have-trouble-finding-skilled-workers <p>Building permits are up by more than a third this year in Michigan.&nbsp; Home prices are also rising.</p><p></p><p>These should be great days for Michigan’s homebuilding industry, which nearly ground to a halt during the recession.</p><p></p><p>But there’s a problem: not enough workers.</p><p></p><p>A survey finds a third of Michigan homebuilding contractors are having trouble finding enough workers to do the job.&nbsp;</p><p></p> Wed, 29 May 2013 16:30:01 +0000 Steve Carmody 12787 at http://michiganradio.org Michigan home builders have trouble finding skilled workers Lawmakers seek to shorten the amount of time to stop a bank foreclosure http://michiganradio.org/post/lawmakers-seek-shorten-amount-time-stop-bank-foreclosure <p>Opponents of a plan to change the foreclosure process in Michigan say it would put more people out of their homes and hurt property values.</p><p>They were in Lansing today to protest a package of bills in the state Legislature.</p><p>The legislation would shorten the amount of time homeowners have to stop a bank foreclosure from six months to two months.</p><p>Ingham County Register of Deeds Curtis Hertel Jr. says banks have wrongly foreclosed on thousands of properties across the state.</p><p>He says it often takes months for people to prove they don’t deserve to lose their home.</p> Tue, 28 May 2013 21:08:01 +0000 Jake Neher 12778 at http://michiganradio.org Lawmakers seek to shorten the amount of time to stop a bank foreclosure The week in review: taxing pensions, foreclosures and international bridge http://michiganradio.org/post/week-review-taxing-pensions-foreclosures-and-international-bridge <p></p><p>This week in review Rina Miller and Jack Lessenberry discuss the possibility of repealing a tax on pensions, how <a href="http://www.michiganradio.org/post/michigans-home-foreclosure-rate-closer-national-average-0">Michigan's home foreclosure rate</a> is no longer the worst, and how the international trade crossing has a <a href="http://www.michiganradio.org/post/report-proposed-detroit-windsor-bridge-gets-key-permit">presidential permit</a> to move forward.</p><p> Sat, 13 Apr 2013 13:02:00 +0000 Jack Lessenberry & Rina Miller 12114 at http://michiganradio.org The week in review: taxing pensions, foreclosures and international bridge Michigan's home foreclosure rate closer to the national average http://michiganradio.org/post/michigans-home-foreclosure-rate-closer-national-average-0 <p>Michigan’s home foreclosure rate is no longer among the nation’s worst.</p><p></p><p>Realty Trac reports Michigan ranked 16th in the nation in home foreclosures in March.&nbsp; That is a far cry from a few years ago when the state had the nation’s highest foreclosure rate.</p><p></p><p>Mary Townley is with the Michigan State Housing Development Authority.&nbsp; She credits the authority’s “Step Forward” program for providing assistance to people at risk of losing their homes…</p><p></p><p></p> Thu, 11 Apr 2013 04:38:00 +0000 Steve Carmody 12090 at http://michiganradio.org Michigan's home foreclosure rate closer to the national average The week in review http://michiganradio.org/post/week-review-14 <p>This “week in review” Michigan Radio’s Weekend Edition host Rina Miller and political analyst Jack Lessenberry discuss: Governor Rick Snyder’s State of the State speech, the possibility of no fault absentee voting, a positive report on Michigan’s housing market, and a possible tax amnesty program for Detroit.</p><p> Sat, 19 Jan 2013 14:00:00 +0000 Jack Lessenberry & Rina Miller 10842 at http://michiganradio.org The week in review In this morning's Michigan news headlines. . . http://michiganradio.org/post/mornings-michigan-news-headlines-142 <p><strong>Governor Snyder addresses roads, schools and partisan divisions in State of the State</strong></p><p>"In his State of the State speech last night, Governor Rick Snyder asked lawmakers to fix roads, schools, and partisan divisions. Snyder wants them to find a way to increase spending on roads and transportation by more than a billion dollars a year. He says bad roads are a financial burden on drivers and the state alike," the Michigan Public Radio Network <a href="http://michiganradio.org/post/governor-snyder-talks-about-roads-and-reconciliation-state-state-address">reports. </a></p><p><strong>Michigan foreclosure rate plummets</strong></p><p>"A new report suggests Michigan is becoming more of a home seller’s market. Home sale prices plunged in Michigan during the recession. But Realty Trac reports in 20-12 home sellers were getting about 94 percent of their initial home sale price listings," Steve Carmody<a href="http://michiganradio.org/post/michigans-home-foreclosure-rate-has-plummeted-during-past-two-years"> reports.</a></p><p><strong>Michigan set 160 weather records in 2012</strong></p><p>One hundred and sixty extreme weather records were set in Michigan in 2012. That's according to the Natural Resources Defense Council. As the Detroit News <a href="http://www.detroitnews.com/article/20130117/METRO/301170364/1409/metro/Michigan-sets-more-than-160-extreme-weather-records-2012">reports, </a></p><blockquote><p>"The Detroit News reports, "Last year's statewide weather broke records across the spectrum including, 139 heat records in 44 counties, 18 rainfall records in 14 counties and three snow records in three counties. Michigan's weather seems to be paralleling the national trend of record-breaking heat, rain and snow."</p></blockquote><p> Thu, 17 Jan 2013 12:27:36 +0000 Emily Fox 10811 at http://michiganradio.org In this morning's Michigan news headlines. . . In this morning's Michigan news headlines. . . http://michiganradio.org/post/mornings-michigan-news-headlines-90 <p><strong>No citizenship box on ballot </strong></p><p>"Secretary of State Ruth Johnson says there will be no citizenship box for voters to check on ballot applications this November. Johnson says the election is getting close, so she won’t challenge a federal judge’s ruling that the citizenship question is unconstitutional. But she says there could be further legal action after the election. Johnson says she also intends to press the federal government for naturalization records to help clear voter rolls of non-citizens. She ordered the check box even after Governor Rick Snyder vetoed a bill to require it. No one could be denied a ballot for refusing to check the box, but Johnson says it's useful to remind people that only U.S. citizens can vote," Rick Pluta reports.<br><br><strong>DHS says foster care is getting better in Michigan</strong></p><p>"Child welfare officials say Michigan’s foster care system is getting better. Steve Yager is the director of Children’s Services for the state Department of Human Services. He told a legislative committee the state is doing a much better job of recruiting and keeping foster parents. Yager also says child welfare workers have more manageable caseloads. The state has been working to overhaul its child welfare system since 2008, after the group Children’s Rights sued the state over problems in the system," Steve Carmody reports.</p><p><strong>Michigan foreclosure rate at a five year low</strong></p><p>"Michigan’s home foreclosure rate could soon reach a milestone. A few years ago the state's foreclosure rate was near the top of the 50 state list. But Daren Bloomquist with Realty Trac says the latest data shows Michigan is poised to drop out of the top 10 possibly by the end of the year. He says Michigan’s home foreclosure rate is near a five year low," Steve Carmody <a href="http://www.michiganradio.org/post/michigans-falling-home-foreclosure-rate-may-reach-milestone-soon">reports. </a></p><p> Thu, 11 Oct 2012 13:25:25 +0000 Emily Fox 9454 at http://michiganradio.org In this morning's Michigan news headlines. . . Michigan's falling home foreclosure rate may reach a milestone soon http://michiganradio.org/post/michigans-falling-home-foreclosure-rate-may-reach-milestone-soon <p>Michigan’s home foreclosure rate could soon reach a milestone.</p><p></p><p>A few years ago the state's foreclosure rate was near the top of the fifty state list.</p><p></p><p>But Daren Bloomquist with Realty Trac says the latest data shows Michigan is poised to drop out of the top ten, possibly by the end of the year.</p><p>"It’s still in that top ten…but it’s moving down," says Bloomquist,&nbsp; "(Michigan) had often been showing up in the top five over the last few years….now it’s moved down to number nine in September.”</p><p></p> Thu, 11 Oct 2012 13:01:01 +0000 Steve Carmody 9453 at http://michiganradio.org Michigan's falling home foreclosure rate may reach a milestone soon In this morning's Michigan news headlines. . . http://michiganradio.org/post/mornings-michigan-news-headlines-79 <p><strong>148,000 Michiganders getting settlement letters</strong></p><p>Michigan residents who lost their homes to foreclosure between 2008-2011 will be sent claims forms as part of a $25 billion national settlement of complaints about improper conduct by lenders. Michigan Attorney General Bill Schuette says about 148,000&nbsp; are being sent claims forms. "Schuette said Tuesday that those eligible to share in the settlement lost their homes to foreclosure in 2008-2011. He says his office continues to look at possible criminal actions involving what are called "robo-signing" practices in foreclosures. Robo-signing involves people signing documents without proper review. Eligible borrowers had mortgages serviced by Ally/GMAC, Bank of America, Citi, JPMorgan Chase and Wells Fargo. The companies agreed to the settlement with the federal government and attorneys general for 49 states and the District of Columbia," the AP reports.</p><p><strong>House bill would make it easier and cheaper to get public records</strong></p><p>"The chairman of a state House committee says it’s too easy for government agencies to delay and sidestep requests for public records. The state House Oversight, Reform, and Ethics Committee opened hearings yesterday on measures to make it easier and cheaper for people to get public records. One bill would limit how much government agencies could charge for providing copies of records. Another would create a state commission to hear citizen complaints about compliance with Michigan’s Freedom of Information Act," Jake Neher <a href="http://michiganradio.org/post/new-house-bill-would-limit-cost-foia-requests">reports. </a></p><p><strong>30,000 kids missing from preschool</strong></p><p>"Because of uneven or inadequate state funding, around 30,000 4-year-olds eligible for public preschool in Michigan are not enrolled. That's according to a new report by Bridge Magazine. More than half the kids in the state are eligible for public preschool because they are from low or moderate income families. But, some districts don't have enough money to meet demand. State officials admit money for the program is uneven and inadequate. Momentum for more early childhood education funding appears to be growing among legislators. The Snyder administration has also said it's a priority," Sarah Alvarez <a href="http://michiganradio.org/webclip/around-30000-kids-missing-state-public-preschools">reports.</a><br> Wed, 26 Sep 2012 12:17:50 +0000 Emily Fox 9240 at http://michiganradio.org In this morning's Michigan news headlines. . . Foreclosure numbers tumble again in Michigan (but a September spike is possible) http://michiganradio.org/post/foreclosure-numbers-tumble-again-michigan-september-spike-possible <p>Michigan’s home foreclosure rate continues to trend lower, but a spike in foreclosure filings may be coming this month.</p><p></p><p>August marked 22&nbsp; straight months that Michigan’s year over year foreclosure numbers declined.</p><p></p><p>In fact, the number of foreclosure filings in Michigan in August fell 41 percent compared to August a year ago. &nbsp;&nbsp;Also, none of the 20 U.S. cities with the highest home foreclosure rates are located in Michigan.</p><p></p><p>But Daren Bloomquist with Realty Trac says there are signs that the trend may soon end.</p><p></p> Thu, 13 Sep 2012 05:01:01 +0000 Steve Carmody 9060 at http://michiganradio.org Foreclosure numbers tumble again in Michigan (but a September spike is possible) Business is brisk at local tax foreclosure auction in Michigan http://michiganradio.org/post/business-brisk-local-tax-foreclosure-auction-michigan <p>There may be some good economic news in a place that&#39;s usually just about bad news: county tax foreclosure auctions. Thu, 02 Aug 2012 20:07:10 +0000 Steve Carmody 8526 at http://michiganradio.org Business is brisk at local tax foreclosure auction in Michigan Anti-foreclosure activists target Fannie Mae, federal lawmakers http://michiganradio.org/post/anti-foreclosure-activists-target-fannie-mae-federal-lawmakers <p>A Detroit-based group of activists is working through the summer to help people facing foreclosure stay in their homes.</p><p>The Detroit Eviction Defense Coalition is affiliated with the Occupy Detroit movement. They held a rally Monday at the McNamara federal building to support Detroit homeowner Jennifer Britt, who faces eviction after a lengthy legal battle.</p> Mon, 09 Jul 2012 21:24:22 +0000 Sarah Cwiek 8198 at http://michiganradio.org Anti-foreclosure activists target Fannie Mae, federal lawmakers Feds to auction Lafayette Towers in Detroit http://michiganradio.org/post/feds-auction-lafayette-towers-detroit <h2 class="node-title" itemprop="name">The Detroit landmark <a href="http://www.lafayette-towers.com/">Lafayette Towers</a> has fallen into foreclosure and is set to be auctioned by federal authorities in two weeks.<br /><br /><a href="http://www.detroitnews.com/article/20120703/BIZ/207030391/Feds-auction-foreclosed-Lafayette-Towers-landmark?odyssey=tab|topnews|text|FRONTPAGE">The Detroit News </a>says financial details were not immediately available in the notice posted by the U.S. Dept. of Housing and Urban Development.<br /><br />Successful bidders on the luxury high-rise will need to post more than $2.5 million in escrow for an estimated $10 million in repairs required to be completed in 18 months.<br /><br />The apartment towers were constructed in the 1960s. The two 22-story, river-view buildings contain 584 units located on nearly 10 acres in the <a href="http://www.nps.gov/nr/travel/detroit/d11.htm">Mies van der Rohe</a> Residential District.<br /><br />The auction is set for 10 a.m. July 18 in the first floor of the Coleman A. Young Municipal Center.</h2><p> Tue, 03 Jul 2012 18:46:11 +0000 The Associated Press 8132 at http://michiganradio.org Feds to auction Lafayette Towers in Detroit