Michigan Home Owners are set up for the Kill

But Mortgage Companies and Realtors are Only Committing Suicide

Southfield, MI -- The costs of homes for sale in Michigan are ranked among the lowest in the nation. At the other end of the spectrum, Michigan home foreclosures are among the highest in the nation.

There are over 200,000 foreclosed homes for sale in Wayne County, Washtenaw County, Livingston County, Oakland County, among others in Michigan. Most of these homes are listed at a fraction of their real estate market value and can be found at http://www.thequickhomefinder.com. Forbes magazine reports that a median income could afford to buy a house in Detroit, Michigan with only two years of saved wages.

So the query is why people aren’t more enthused to buy a house in Michigan. Even more puzzling is the rising number of real estate companies, realtors, real estate agents, and mortgage companies that have gone out of business over the past three years. Perhaps the answers can be traced back to August, 2004 when banks all across the state lowered their mortgage interest rates as low as 3 percent. This was followed by finance companies in Michigan offering adjustable rate mortgages to consumers with low income and bad credit.

“They were being set up for the kill.” says Ralph Marcus Maupin, Jr. of The National Real Estate Network. “Once interest rates started going up, mortgage companies saw how they could cash in by raising homeowners mortgage rates.” But their plan backfired; homeowners were forced to forfeit their property which meant mortgage companies and their investors in Michigan couldn’t collect their money. This explains the long list of vacant houses cataloged on the http://www.thequickhomefinder.com website.

The Quick Home Finder.com services the following Counties, Townships and Cities:

Oakland County --Addison Township, Auburn Hills, Berkley, Beverly Hills, Bingham Farms, Birmingham, Bloomfield Township, Clawson, Commerce Township, Farmington, Farmington Hills, Ferndale, Franklin, Hazel Park, Highland Township, Holly, Holly Township, Huntington Woods, Independence Township, Keego Harbor, Lathrup Village, Lyon Township, Madison Heights, Milford, Milford Township, Northville, Novi, Oak Park, Oakland Township, Orchard Lake, Orion Township, Oxford Township, Pleasant Ridge, Pontiac, Rochester, Rochester Hills, Royal Oak, Southfield, South Lyon, Troy, Walled Lake, Waterford Township, West Bloomfield Township, White Lake Township, Wixom Wayne County --Belleville, Brownstown Township, Canton Township, Dearborn, Dearborn Heights, Grosse Ile Township, Grosse Pointe Shores, Grosse Pointe Woods, Hamtramck, Inkster, Livonia, Northville Township, Plymouth, Redford Township, Riverview, Romulus, Taylor, Trenton, Wayne, Westland, Wyandotte. Washtenaw County: Ann Arbor, Bridgewater, Chelsea, Dexter, Manchester, Salem, Saline, Superior Township, Whitmore Lake, Whittaker, Willis, and Ypsilanti

Livingston County:
Brighton City, Cohoctah Township, Deerfield Township, Green Oak Township, Handy Township, Howell City, Iosco Township, Village of Fowlerville, Brighton Township, Conway Township, Genoa Township, Hamburg Township, Hartland Township, Howell Township, Marion Township, Putnam Township, Unadilla Township, Village of Pinckney

For more information: http://TheQuickHomeFinder.com


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