Michigan and the Media, Negativity or Positivity

Negativity or Positivity~~ 2010 Census statistics: Michigan is the 8th largest state in the U.S. Our population only dropped -0.4% from 9,955,829 to 9,911,622 residents. Doesn’t exactly sound like the free fall the media would have us believe. So to … Continue reading

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REALTORS~~Do you like the 100% commission concept Real Estate brokerages? Do you see any benefit from that program?

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Bank of America April Technology Enhancements Drive Changes to the Short Sale Process

Bank of America continues to improve the short sale process so agents can help homeowners avoid foreclosure. In March, fields were added to the initiation page in Equator so Bank of America can identify which short sale the homeowner qualifies … Continue reading

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One day a boy asked his grandpa “grandpa make a frog sound”  The grandfather asked Why?  The boy said, “Grandma says when you croak we are going to Hawaii”

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QUOTE OF THE DAY~~”That’s the real trouble with the world, too many people grow up. They forget. They don’t remember what it’s like to be twelve years old.” Walt Disney

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House Plans


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ANN ARBOR, Mich. (CMPS Institute) – The Federal Housing Administration (FHA) is giving homeowners and buyers until Oct. 4 to lock in a low monthly insurance premium on FHA loans, according to Gibran Nicholas of the CMPS Institute, which trains and certifies mortgage bankers and brokers.

After that, the monthly insurance premiums on FHA loans will increase by over 63 percent.

A homebuyer purchasing a $200,000 home using a $193,000 FHA mortgage before Oct. 4 would pay an insurance premium of $88.46 per month. If the same homebuyer waits until after, the insurance premium would jump to $148.01.

Although the upfront mortgage insurance premium is going down, “the real impact to the homebuyer is actually a net increase in their out-of-pocket costs because the monthly premium is going up by 63 percent,” Nicholas said.

“Remember, sellers can pay the upfront premium or it can be financed into the loan amount, so homebuyers rarely pay the upfront premium out of pocket,” he said. “On the other hand, the increase in the monthly premiums will be paid right out of the homebuyer’s pocket with their mortgage payment each month.”

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