Tuesday, May 20, 2014

Real Estate Becomes A Favorite Investment Again

According to a Gallup poll released last month, a plurality of Americans now think of real estate as the "best" long-term investment, followed by gold, stocks and mutual funds, savings accounts/CDs, and bonds:

Tuesday, February 4, 2014

FHA Goes Full Throttle with Modernization Effort

FHA green lights acceptance of more e-signatures on mortgage documents.

As part of its modernization effort, the Federal Housing Administration is accepting more electronic signatures on mortgage-related documents. The policy allows e-Signatures on origination, servicing and loss mitigation documents. FHA insurance claims, REO sales and other contracts can also be administered by e-Signature. Under current policy, lenders dealing with FHA are used to electronic signatures being limited to only third-party documents, including sales contracts not controlled by the lender.

"By extending our acceptance of electronic signatures on the majority of single family documents, we are bringing our requirements into alignment with common industry practices," said FHA Commissioner Carol Galante. "This extension will not only make it easier for lenders to work with FHA, it also allows for greater efficiency in the home-buying and loss mitigation process." This new policy begins immediately for lenders who want to use e-signatures on single-family forward mortgages and FHA reverse mortgage products. Lenders still have to follow the Electronic Signatures in Global and National Commerce Act.

Deadline Approaching for New Personal Property Tax Exemption

The February 10th, 2014 deadline for a new and potentially money-saving exemption from the Michigan Personal Property Tax is fast approaching.

Specifically, the law now provides for businesses that own, lease or possess commercial and industrial personal property with a market value of less than $80,000 to eliminate their 2014 Personal Property Tax bill. This is a significant jump from the previous threshold of $40,000, and the inclusion of commercial and industrial property may increase applicability among investors.

Eligible businesses must file the MI Treasury Form 5076 (Affidavit of Owner of Eligible Personal Property Claiming Exemption from Collection of Taxes) by February 10th of this year. Businesses that qualify for the exemption by filing the affidavit on time are not required to file a Personal Property Statement. However, they are required to maintain adequate books and records on the equipment to substantiate the claim.

Wednesday, August 14, 2013

Big Change For Reverse Mortgages

Get ready for some major renovations in the federal reverse mortgage program.
On Wednesday, the U.S. Senate joined the House in passing legislation giving the Federal Housing Administration authority to alter its Home Equity Conversion Mortgage program, or (HECM), protect borrowers and help the agency avoid a federal bailout. The agency is expected to reveal later this month exactly how it’ll alter the rules, which could take effect as early as Oct. 1.
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Friday, June 7, 2013

Say goodbye to those low mortgage rates

This week, the average rate on a 30-year fixed-rate mortgage jumped another 10 percentage points to 3.91% and are up from 3.3% in early May, according to mortgage giant Freddie Mac. Meanwhile, those seeking a 15-year loan received an average rate of 3.03%, up from 2.56% -- a record low.

Interest rates on the rise

Tuesday, May 28, 2013

At 9AM on Saturday, June 1, there will be a birding activity for children and another (at the same time) for adults. These activities are part of the Leelanau Peninsula Birding Festival and are open to all.

Bird & Bug Safari For Kids at Suttons Bay Wetlands Walk: Leaders Ann McInnis, Jan Ostrowski. Meet at Suttons Bay Visitor’s Center at 9AM.

Beginning Birding at Suttons Bay Wetland Walk: Leader Kay Charter.  Meet at Suttons Bay Visitor’s Center at 9AM.

Binoculars will be provided for all ages.

Friday, May 24, 2013

Open House - May 25th, 2013 - 11am - 1pm
408 N Saint Marys St - Suttons Bay, MI
3 bed / 1 bath / 1088 SF

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