What is an escrow account? How do they work?
If you are looking at obtaining a mortgage or already have one, more than likely you will need to deal with an escrow account. It can be difficult to understand the timing and moving piece within the escrow account. Inevitably, if you have an escrow account your mortgage payment will change each year. Understanding how... Read More
Understanding Property Tax Increases
Many home buyers have been facing a very challenging market over the past few years. The current supply of homes on the market just can’t keep up with the huge demand out there. It’s not uncommon for a home to come on the market and be sold in a matter of days after receiving multiple... Read More
2018 Real Life Property Tax Appeal – Michigan
Its that time of year! Property tax assessment notices are arriving in homeowners mailboxes all over Michigan. This is your once a year opportunity to appeal your property taxes and potentially save a lot of money. The appeal process can be overwhelming for homeowners so I wanted to break it down and give a real... Read More
Tax Deductions for Home Owners
Jeremy Drobeck of Amerifirst Home Mortgage meets with tax expert Dennis Greenfield to help people learn about some of the benefit's to home ownership. Having the ability to take the mortgage interest deduction can in turn open up a whole bunch of other write-offs. Things such as state & local taxes that were paid, property taxes, charitable... Read More
How To Dispute Property Taxes in Michigan part 2 – The Board of review
Last time we talked about why you might dispute your property taxes. Now learn HOW! Step 1 - File with the board of review Form L-4035 Step 2 - Appeal in person if at all possible (you only get a small window each year and will need to set that up in February. Don't miss it)... Read More
Property Taxes: Tax Tribunal part 3
What Do You Do When The Board Of Review Says "NO!"? Here are a couple Pointers: In my experience the Board of Review almost shoots you down, but the appeal process at the State Tax Tribunal has a reasonable non-bias person there to look at your appeal - GO TO the Tax Tribunal! Don't be... Read More
Fighting your property taxes and assessed values
Thinking your paying too much in property taxes? You might be! I look up a lot of property taxes and find that most homes are selling for less than what the local assessors are saying they are worth. Perfect example would be a home I bought for $25,000, the home was NOT a forclosure and... Read More
Latest Blog Post
The Family Opportunity Mortgage
Unlocking Homeownership: Supporting Loved Ones with the Family Opportunity Mortgage Program
For many, the dream of homeownership remains a significant milestone. But what if you could help a close family member achieve that dream, even if they face financial hurdles? The Family Opportunity Mortgage Program, often referred to as the Family Assist Program, is a specialized mortgage solution designed to do just that – empower families to support loved ones in purchasing a home.
What is the Family Opportunity Mortgage Program?
This unique program was created to address a common challenge: families who want to assist elderly parents, adult children with disabilities, or other qualifying relatives in buying a home, but where the assisting family member might not be able to occupy the home themselves, or where the assisted family member faces challenges meeting traditional mortgage qualifications alone. It essentially allows family members to secure financing for a loved one’s primary residence, often with more favorable terms than a standard investment property loan.
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