Governor Jennifer Granholm signed a new Michigan law modifying foreclosure and loan modification rights (2009-PA-0029, 2009-PA-0030, 2009-PA-0031) to help financially distressed homeowners on May 21, 2009. The new foreclosure law takes effect on July 5, 2009. I have posted a copy of the new Michigan foreclosure law. [PDF - all acts] Individual bills/acts in the [...]

RealtyTracTM, a leading online marketplace for foreclosure properties, released their data from 2006 last week. According to this article filed with PR Newswire, Detroit leads the nation in per-capita foreclosures by city: With an average of more than 10,000 foreclosure filings in each quarter, Detroit documented the highest annual foreclosure rate among the nation’s 100 [...]

Here’s something to warm the cockles of a real estate developer’s heart. The Michigan Court of Appeals recently held that Michigan’s Real Estate Transfer Tax should be assessed on the value of the property at the time of transfer, and not on the value of the property after the home is built. Lake Forest Partners [...]

“Reckless negligence” Found In Designing Home Sale Flyer Let’s look at the legal gyrations in one of these all-too-common purchase disputes over the condition of the home, after the keys and the money have been exchanged. The Realtor® generated one of those highly appealing, “Take One”-at-the-signpost type pieces listing all the features and advantages of [...]