President Obama just announced a plan that will allow people to refinance for a lower interest rate. I know it's not a principal reduction but it may help the overall cost of the mortgage you are paying. The new plan will allow you to refinancing without the current loan-to-value restrictions. I am a local lender. We are expecting the plan to hit the street very very soon.... more
We've been very busy with buyers in recent weeks. Many of them are looking at Bloomfield Hills and Franklin homes. Move up buyers are happy that they can afford neighborhoods that they could not previously afford.
Yes, prices have fallen, but there is still demand for nice homes. We've personally been involved in quite a few multiple offer situations already this spring. Our listings are getting a lot of activity and houses are selling.... more