FHA Program from Detroit Gets National Attention,National Faith clients are 8 times less likely to enter foreclosure than the Detroit homeowners overall according to recent "HUD" statistics,

By
Real Estate Agent with National Real Estate Network, LLC

 

FHA Detroit, New Homebuyer Program Puts Focus 100% Buyers Needs in Detroit Michigan Homeowners Market 

 

 

Main Photo

Location: Detroit, Michigan9722 Wayburn - 3 bedroom brick bungalow

Appraised at $124,000 in June '08

- Fireplace in living room
- Hardwood in dining room
- New carpet throughout
- New doors & windows
- Updated plumbing & electrical
- Ceramic tile & new cabinets in kitchen

Up to $5,000 in buyer incentives. Each buyer will be handled to meet their specific needs.

Options available (customized to fit buyer's needs):

New appliances
Furniture
Computer
Television
Pre-paid cable & internet, etc...

New Home Program Puts Focus on 100% Buyers Needs in Detroit Michigan Homeowners Market 

 Detroit, MI -- Tri-County Real Estate Investments is getting all the attention with their new FHA program (HUD). They are offering completely re-modeled homes with an unbelievable amount of buyer's incentives. Ralph Mark Maupin of National Real Estate Investors Network said “Here is group that will give the buyer a newly furnished home with a Certificate of Occupancy from the City of Detroit.  Home buyers who use this program have a track record of being 8 times more successful than the average home buyer in Detroit. In Detroit or any market, it just does not get better than that.”

 

Home buyers will not only get a "turn-key" home at below market value, they will also receive up to $5,000 worth of incentives that can be used for furniture, appliances, computer, pre-paid internet access, television, etc...

 

Tri-County uses only Non Profit organizations in Detroit to help the buyer get a down payment grant. This company just received a national award for managing one of the most productive homeownership development programs in the entire United States for helping over 500 families realize the American Dream over 18 months.  In addition, their counseling program achieved a much more important milestone; its clients are eight times (8x) LESS LIKELY to default on their mortgage loans.

 

For 2009, Non Profit bring out of pilot phase two comprehensive services to help lenders lower their foreclosure rates and increase their recoveries on REO’s.  The first of these programs is a foreclosure intervention program that helps the family restructure their finances to remain in the home or positions them for an orderly sale.  The second is an REO to ownership program “The Second Chance American Dream” a CRA qualified investment.  The benefit of these programs, observes Executive Director Dina Harris, is that the lender minimizes its losses by avoiding costly litigation, limiting property damage during vacancy and accelerates the time to receive cash, while improving its image in the community.“

 

 

Each buyer has unique needs and Tri-County will customize the incentives to fit each buyer's housing needs.

 

Tri-County also has relations with a local non-profit organization that offers down payment assistance in the form of federal grants for qualified buyers.

 

Contact Bonnie Steele, agent with Budget Realty, to get details and photos of each property. 

 

 

 

 

Bonnie Steele

Real Estate Agent

Budget Realty

517-294-7606

steelebonnie@sbcglobal.net

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Rainmaker
76,119
Randall Schrader
Competitive Insurance of Dundee - Dundee, FL

8 times huh?  That is a big number.  Are they comparing FHA borrowers to the no doc or stated borrowers?  This would make sense because of the scrutiny of the FHA underwriters.

Nov 25, 2008 07:06 PM #1
Ambassador
1,157,986
Jim Crawford
RE/MAX Paramount Properties - Atlanta, GA
Jim Crawford Atlanta Realtor - Atlanta Real Estate

Sounds like an interesting program for buyers.  I guess we have to start someplace.

Nov 25, 2008 07:25 PM #2
Rainmaker
560,085
Kelly Willey
Coco Plum Real Estate, Kelly Willey, FLORIDA KEYS - Marathon, FL
Florida Keys Luxury, Short Sale Agent

Nice to see some rpograms still helping the buyers

Nov 25, 2008 09:40 PM #3
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Rainmaker
420,798

Ralph Mark Maupin

Michigan Real Estate Investors Host
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