Detroit Real Estate News
Real Estate news for Detroit, MI continually updated from thousands of sources.
Wednesday Nov 11 | via Natl. Relocation & Real Estate
Foreclosure inventory declined by 24.3 percent and completed foreclosures declined by 17.6 percent compared with September 2014, according to the recently released CoreLogicA September 2015 National Foreclosure Report . The number of foreclosures nationwide decreased year over year from 67,000 in September 2014 to 55,000 in September 2015. Comment?
Tuesday Nov 10 | via MLive.com
A Metro Detroit mayor refused to hear comments at a public meeting from people losing their homes because public officials wanted to go to a pizza party, according to the Detroit News. Garden City's mayor: residents who lost homes couldn't address council because pizza party was planned after meeting https://t.co/2Ba1reqQJk Garden City officials walked out of a meeting on Monday before seven residents facing foreclosures could voice their concerns, according to the Detroit News. Comment?
Tuesday Nov 10 | via Mortgage News Daily
The judicial foreclosure states appear to finally be clearing out their long-clogged foreclosure pipeline as foreclosure inventories declined notably on an annual basis in September. Completed foreclosures and serious delinquencies were also down on a year-over-year basis as reported in CoreLogic's September National Foreclosure Report. Comment?
Tuesday Nov 10 | via Metro Times
One week after our deep dive into the foreclosure auction and scams targeting foreclosures and Wayne County's skimpy resources for family's going through foreclosure and the auction - seriously, do read it all - Next City published a comparably devastating and detailed look at the same topics . This one looks at the situation through Jerry Paffendorf and Loveland Technologies, which has been doing yeomen's work on the problem and possible solutions. Comment?
Friday Nov 6 | via Metro Times
Photo by Michele Oberholtzer Michele Oberholtzer of the Tricycle Collective pens the following editorial on the forces vying for property in the Wayne County tax auction, and what their various advantages - or disadvantages - mean for the future of Detroit. For more of Metro Times' coverage of the auction, check out this week's cover story : "Out from under: One family fights to win their house back in the Wayne County foreclosure auction after being scammed by a sub-subprime entrepreneur." Comment?
Wednesday Nov 4 | via MLive.com
Former real-estate developer Charles Patrick Gahan was sentenced Wednesday, Nov. 4, to five years, 10 months in federal prison in an $8 million "mortgage-stacking" scheme. Gahan, 52, was remanded to the custody of U.S. Marshal's Service after sentencing by U.S. District Judge Robert Holmes Bell. Comment?
Wednesday Nov 4 | via MLive.com
Charles Patrick Gahan, 52, who has been living in Florida, will join co-defendant Scott Hoeft, owner of Prime Title Services, in the federal Bureau of Prisons for defrauding banks, lenders and real-estate title insurance companies. Hoeft wrote title insurance policies for First American Title and Old Republic National Title Insurance and committed financial fraud against several financial institutions linked to Gahan's residential developments. Comment?
Wednesday Oct 28 | via MLive.com
Ann Arbor's original "tiny house" community just passed a quiet milestone: A listing in Pittsfield Village hit the market this month priced at more than $100,000. The two-bedroom, 695-square-foot tri-level on Parkwood went under contract quickly - reportedly for even more than the $109,000 list price - signaling that Ann Arbor's hot real estate market seems to be reaching every corner of the market. Comment?
Oct 22, 2015 | via Patch.com
With combined assets of more than $1 billion, Level One Bank will become the largest locally owned bank in Oakland County. Level One Bancorp Inc. will acquire Farmington Hills-based Bank of Michigan, also based in Farmington Hills, under an agreement announced Thursday. Comment?
Oct 1, 2015 | via ClickOnDetroit
Starting Oct. 3, new federal rules go into effect that are designed to make the process a little easier. As with any new change, there will be ripple effects and those changes will impact how quickly you are able to buy and sell a home. Comment?
7 min ago | via TheStreet.com
If 2015 is like last year, 78% of workers can hope for some kind of year-end bonus from their employers. Few will get anything like the average $172,860 Wall Street bankers can expect in their stockings. Comment?
21 min ago | via Mortgage News Daily
Mortgage applications were a bit of a mixed bag during the week ended November 20, a week in a hammock strung between two holidays. The Mortgage Bankers Association said its Market Composite Index, a measure of application activity, was down by 3.2 percent on a seasonally adjusted basis from the previous week but increased by 6 percent on an unadjusted basis. Comment?
26 min ago | via AmericanBankingNews.com
Farmers & Merchants Bancorp Director Steven Wyse acquired 3,400 shares of the company's stock in a transaction on Tuesday, November 24th. The stock was acquired at an average cost of $26.50 per share, with a total value of $90,100.00. Comment?
27 min ago | via Live Charts
Applications for US home mortgages fell last week, data released on Wednesday showed. The Mortgage Bankers Association said its seasonally adjusted index of application activity, which covers home purchase demand and refinancing demand, declined 3.2% in the week ended 20 November. Comment?
45 min ago | via AmericanBankingNews.com
Arch Capital Group insider Louis T. Petrillo sold 4,555 shares of the stock in a transaction that occurred on Monday, November 23rd. The shares were sold at an average price of $73.86, for a total transaction of $336,432.30. Comment?
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