Michigan Tax Legislation Now in the House of Representatives- Good News for Home Buyers

Michigan Tax Legislation Now in the House of Representatives- Good News for Home Buyers A brief explanation of how Michigan property taxes work. We have what is called the homestead exemption for a person’s primary residence in The Great Lakes State, which basically means if the house is your primary residence you get a break [...]

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Seller Concessions For Dummies

I’m not really calling you a dummy. This is my attempt at a very simplified explanation of what seller concessions are. Example: You want to buy the house you just looked at and want to make an offer of $200,000. You need $5000 in seller concessions (seller paying all or part of your closing costs). [...]

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A Tale of Two Taxes

It was the best of times (when your house was assessed). It was the worst of times (now)… it was the epoch of belief, it was the epoch of incredulity… it was the spring of hope, it was the winter of despair, we had everything before us, we had nothing before us… Two houses in [...]

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Interest rates are down

I heard from a lender I work with at National City- interest rates are down! Yeah! Right now you can get a conventional mortgage with no point for 5.5% (with good credit of course). FHA rates run about a quarter per cent higher. Great time to buy- prices are down. Rates are down. And a [...]

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