Bank of America has announced “Enhanced Second Lien Deficiency Waiver Guidelines”. It is important when processing a short sale to understand all of the latest programs in place by all of the lenders.  The latest announcement reads:  
Based on the Department of Justice settlement, effective June 1, Bank of America is extending additional support…

On June 11, Redman Law Firm has moved its offices to downtown Birmingham, Michigan. From 2003 to 2006 Bruce Redman managed a firm in Birmingham. When the firm outgrew its space, it moved to Bloomfield Hills. But ever since moving out of Birmingham, Bruce, a life-long Oakland County resident, has wanted to move back.  Bruce…

I have seen more and more situations where someone has co-signed on a mortgage loan so that a family member could purchase a house or condo. Usually it is a parent who is co-signing for an adult child who has had credit issues. Typically, the parent has income, assets and a credit score that allows…

People who are having trouble making their house payments and are facing foreclosure often are often not aware of their options. Anyone in this situation should be counseled in the foreclosure process and five alternatives to foreclosure. These alternatives are: Refinance, Loan Modification, Bankruptcy, Deed In Lieu of Foreclosure and Short Sale. Until you understand…

                Each year, usually in early February, every property owner will receive a notice from their city or township assessor that says in bright red letters: “This Is Not a Bill”.  This notice is sent, not because the assessor wants to do so, but rather because every municipal assessor is required by statute to “estimate,…

We are getting many questions from people having trouble making their mortgage payments. In response to the most frequently asked questions, we have compiled the following Top 10 tips:

…