short sale

Michigan's home foreclosure rate closer to the national average

Steve Carmody — Thu, 11 Apr 2013 04:38:00 +0000

Michigan’s home foreclosure rate is no longer among the nation’s worst.

Realty Trac reports Michigan ranked 16th in the nation in home foreclosures in March. That is a far cry from a few years ago when the state had the nation’s highest foreclosure rate.

Mary Townley is with the Michigan State Housing Development Authority. She credits the authority’s “Step Forward” program for providing assistance to people at risk of losing their homes…

There is growing optimism in Michigan's home building industry

Steve Carmody — Mon, 08 Apr 2013 15:37:50 +0000

Michigan’s home builders are optimistic about the year ahead.

The recession walloped Michigan’s home building industry. Many builders went out of business. Others merged and focused on home remodeling.

But a new survey shows Michigan’s home builders are optimistic about getting back into the business of building new homes. They say pent up consumer demand, especially for more expensive homes ($200,000 to $800,000), is pushing up the Michigan Housing Index.

Michigan Supreme Court justice charged with fraud

Associated Press — Sat, 19 Jan 2013 18:27:04 +0000

Michigan Supreme Court Justice Diane Hathaway has been charged with bank fraud just a few days before quitting the state's highest court. The charge was filed Friday and titled as a criminal "information," which means a guilty plea is expected in federal court.

Pre-foreclosed homes selling briskly in Michigan

Steve Carmody — Thu, 06 Dec 2012 14:17:19 +0000

Michigan continues to see homes in the foreclosure process selling at a brisk rate.

About 24% of the homes sold in Michigan during the third quarter of the year (July-September) were in some stage of the foreclosure process.

Realty Trac reports that’s about 5% higher than the national average.

Georgia had the highest percentage of pre-foreclosure homes among residential sales at 38%.

More Michigan mortgage lenders turning to 'short sales' to avoid home foreclosures

Steve Carmody — Thu, 01 Mar 2012 06:01:01 +0000

A surge in so-called ‘short sales’ is helping reduce the number of Michigan home falling into foreclosure.