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Did You Know?
A Rehabilitation mortgage is a mortgage that covers the costs of repairing or improving
Rehabilitation mortgage is a mortgage that covers the costs of rehabilitating (repairing or Improving) a property; some rehabilitation mortgages - like the FHA's 203(k) - allow a borrower to roll the costs of rehabilitation and home purchase into one mortgage loan.
Newsroom
News about real estate cases in Michigan and nationwide:
Definition:
Money put down by a potential buyer to show that he or she is serious about purchasing the home; it becomes part of the down payment if the offer is accepted, is returned if the offer is rejected, or is forfeited if the buyer pulls out of the deal.
Mortgage insurance
Definition:
A policy that protects lenders against some or most of the losses that can occur when a borrower defaults on a mortgage loan; mortgage insurance is required primarily for borrowers with a down payment of less than 20% of the home's purchase price.
Condominium
Definition:
A form of ownership in which individuals purchase and own a unit of housing in a multi-unit complex; the owner also shares financial responsibility for common areas.
If you live in the following cities and need an real estate attorney you should contact
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Adrian
Ann Arbor
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Belleville
Canton
Clinton Township
Dearborn
Dearborn Heights
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Muskegon
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Redford
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Roseville
Saginaw
Sterling Heights
Taylor
Traverse City
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Troy
Warren
Westland
Wyandotte
Ypsilanti
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general information related to real estate issues commonly encountered.
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