Michigan Property Taxes Estimator
In Michigan when a home sells the taxable value will uncap. Often the local assessor will also match the state equalized value to the sales price. When this happens the annual taxes will change. This is a great tool you can use to see what property taxes might do when a home is sold. Additionally this a great way to look at property tax rates in different areas. Remember the SEV is half the sales price.
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Planning to Buy a Condo? Read This Before You Make an Offer!
Are you shopping for a condominium this year?
If so, a major rule change just went into effect that could impact your home loan.
Fannie Mae and Freddie Mac recently updated their master insurance requirements. Here is the bottom line: CONDO ASSOCIATIONS MUST NOW CARRY 100% REPLACEMENT COST COVERAGE.
If an association falls short of this requirement, buyers cannot secure conventional mortgage financing.
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