Reply by Philip Johnson on 10/13/07 5:47pm
Msg #216407
The more I read about Michigan I can't help but wonder
who voted for these clowns that are in charge? Folks always run down the southern states, for their various ills, but I believe even they can say have you seen Michigan?
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Reply by CF on 10/13/07 8:32pm
Msg #216423
Re: The more I read about Michigan I can't help but wonder
Well, I am sure that these borrowers will be closing in a title companies office that have been picked or determined by the lender and the state. As for the tax payers backing this plan...I am not too sure on that. MI already offers a loan program...cant think of what it is called....but the guidlines of income sound a lot like this program. I would like to think that, we as mobile notaries, can get in on some of these closings....but may not be very likely. If you search Michigan.gov you can find that lending program that already exists....sounds like they will piggy back off what is already there. I am hopeful that this will work out....that way we can all still get our "normal" signings from people that qualify to re-fi, and there property value is not completely in toliet b/c of all of the foreclosures. All of the jobs that I have done over the past 6 mos appraisals are down so low....that I am lucky to be there in the first place for this person to qualify to re-fi. This may be a good thing.....our state is on a bad path....no jobs and no real estate value...no funding for education.....it just keeps getting worse as the days go on. This may be a great thing! JMHO
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