Michigan Home Owners are set up for the Kill

Released on: December 20, 2007, 4:31 am

Press Release Author: Larry Morris

Industry: Real Estate

Press Release Summary: The costs of homes for sale in Michigan are ranked among the
lowest in the nation.

Press Release Body: 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.
About TheQuickHomeFinder.com LLC:
Quick Home Finder is FREE, easy to use, comprehensive way to find the perfect home
to Buy or Rent. Our real estate insiders are ready to assist you whether you are
looking for a dream home, or an investment property. We give you best tools so you
are equipped to make right decisions to buy real estate in Michigan. Get more
information at http://www.TheQuickHomeFinder.com
Larry Morris
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

This Press Release has been submitted by PREasy.com

Web Site: http://www.TheQuickHomeFinder.com

20700 Civic Center Drive
STE 170
SOUTHFIELD, Michigan 48076
Phone: 888-851-3710

  • Printer Friendly Format
  • Back to previous page...
  • Back to home page...
  • Submit your press releases...