yep, you read that right! There couldn't be a better time in Michigan to purchase a home. With foreclosures at an all time high and predicted to go higher, purchasing a foreclosed home is something to think about.
Aside from how many horror stories you have heard about purchasing a foreclosed home, if you do your research, contact a knowledgeable realtor that deals in foreclosures and get the home inspected you will have an idea of what you are getting into. The thing you don't want to do is jump on the first house you find. Due dillegence is vital.
How to purchase a foreclosed home confuses people. They contact phony ads in the newspaper, get the runaround and give up before you start. Folks, it can be easier than that. HUD has a web site that you can go to and browse foreclosed homes in your area. The link to Michigan foreclosed homes is at the bottom of this post.
HUD inspects foreclosed homes before they list them on their web site. When you do a search by zip code and price range HUD homes for sale will come up. To find out what their inspections revealed click on Property Inspection Report. This will tell you what they found. You will still want to get your own inspection done by someone you hire yourself. Also linked on the property pages is HUD registered brokers. What most people don't realize is on some HUD homes you can get a mortgage or a loan - imagine, purhasing a three bedroom for as little as $10,000 in the city. Or as little as $50,000 with acreage in the country.
Purchasing a foreclosed home can bring you one step closer to self sufficiency. One major accomplishment that most people have a problem attaining is not having a house payment. If you are renting, think about all the money you are paying every month to your landlord, wouldn't you rather pay a mortgage company and eventually own the house? These days in Michigan, this is easier than ever.
Here is the link to the Michigan HUD homes. Just follow the link, type in the zip code you want and the price range. Remember, do your research!
http://www.mcbreo.com/st_mimain.htm
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2 comments:
Excellent post Katie....makes me want to give up my dream of moving back home to a homestead on Cape Breton Island and packing her all in and moving to Michigan!!! Plus you guys got the best militiamen in the world!!!
Thanks for your hard work here...some of us really appreciate it!
Thanks Kymber! It's good to read the encouragement!
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