Rochester, MI

Rochester Michigan, a great walk able community in Northern Oakland County, held it’s third annual Fire and Ice Festival January 29 & 30, 2010. “A Winter Zoobilee” was the theme for the many ice sculptures that lined the streets downtown. While it was a sunny day, the temperature was anything but. I took my camera and Flip video to capture all the fun and my first stop was the fire where they were roasting marshmallows – I definitely appreciated the “fire” part of Fire and Ice.

Fire and Ice Festival in Rochester Hills from Cathy Tishhouse on Vimeo.

The festival, sponsored by Oakland County Parks, included sledding, ice skating, horse-drawn carriage rides, broomball demonstrations, taste fest and beer tent with local restaurants until 9 p.m. each night, the “Big Bright Light Show,” and fireworks on Friday and Saturday nights. Winter recreation activities (and other festivals) take place on East Third and Water streets near the Rochester Fire Department.

After warming a bit by the fire, I watched some tube sledding – which probably would have done a lot to keep me warm. I noticed there were not that many people at the top of the hill - the line was at the bottom where you picked up your tube and walked the long hill up to get your turn to sled. There were a lot of parents carrying a couple of tubes – children have all the fun!

After walking the course and taking video followed by pictures of the ice sculptures, I really needed to warm up. A large bowl of vegan chili and a glass a wine at “Mind, Body, Spirits” was just the thing. I found a nice sunny window upstairs where I watched the activity on the street. I didn’t wait around for the “Big Bright Light Show” - when shops along Main, Fourth, Walnut and Water streets switch on the 1.2 million holiday lights. Rochester is well known for the Light Show which begins every year around Thanksgiving and a signature event to get into the holiday spirit.

Rochester (and Rochester Hills) is a great community to live with many festivals throughout the year geared for family fun. I was really impressed with all that went into creating the sledding runs, rink and course for the dog sledding – for literally a day and a half event.

Rochester Hills Michigan Realtor selling Oakland County Real Estate. TishHouse sells Houses – selling Real Estate Southeastern Michigan with RE/MAX Showcase Homes in Birmingham, Michigan. Helping People in a challenging market by specializing in Short Sales. See what my clients have to say about my extraordinary customer service. Follow me on Twitter.

Ok, so you're a Realtor or loan officer with a client that just told you that they completed a short sale in the past year. Your first thought is probably something along the lines of "See ya", "Good luck" or maybe at best "I'll put you in my tickle file and call back in two years".

The facts are that conventional loan guidelines treat a short sale or what is sometimes referred to as a pre foreclosure as an actual foreclosure. Currently those guidelines state that a borrower isn't eligible for a conventional loan for the next 5 years. Yikes! Ok, so what's next? How about a FHA loan? FHA, as forgiving as it is states that a foreclosure or short sale needs to be completed 3 years prior to an FHA application is started.

So what's left? Rural Housing to the rescue! Rural Housing loans do not have any time line for a borrower to be able to apply and get a RH loan. RH loans are the most forgiving loans out there right now. Basically a borrower can buy a home with zero down, get normal and customary sales concessions for the area (usually at 6%), there is no PMI upfront or on a monthly basis, the rates are just about the same as FHA and conventional, and all this can be accomplished with borrowers that have recent less than perfect credit scenarios.

I know what you must be thinking by now, "Why haven't I heard of this yet"? RH loans for all their forgiving underwriting guidelines do have some particular items that make it a bit less common than other loans. First and foremost the property needs to be in an eligible area (AKA not the most congested cities around you). Second is that it would be ideal if your borrowers had a 660 credit score, 620 will work for most. Officially RD has no minimum credit score, but the lenders that fund these loans do. Third, the borrowers will need to earn less than the RD limits for the county based on the number of people they plan on having living in the home. Lastly the home should be a conventionally framed (stick built home), no trailer homes!!!

Now, although the RD program has some very basic guidelines, the lenders that we have to send them into to have them underwritten, may have guidelines over and beyond what RD has. It is important that your broker has relationships with multiple lenders that underwrite RD loans. One lender may very well approve a RD loan that another turned down.

I hope you have found this article helpful and hope you close more deals because of it.

DanielLitvin

President

Advantage Lending Corp

Rochester Michigan

WWW.AdvantageLendingCorp.com

RESPA, the 2010 GFE, MDIA, and general reform. Yes it happened and it takes some understanding to be able to stay in the game and know what your doing, but isn't that the point a more educated mortgage lender? I'm not saying that it's fun, but this is the world we now have to live in to stay in this business.

Either way I have noticed that mortgage applications are increasing. Mostly first time home buyers looking to take advantage of the market and of course, "Obama Money". Things are looking good for 2010 and i wish all my other Real Estate and Mortgage professionals out there the very best of success this year.

Daniel Litvin

www.AdvantageLendingCorp.com

WASHINGTON D.C., June 8, 2009 -- Franklin Title Agency, LLC has been selected for the 2009 Best of Rochester Award in the Title Insurance category by the U.S. Commerce Association (USCA). The USCA "Best of Local Business" Award Program recognizes outstanding local businesses throughout the country. Each year, the USCA identifies companies that they believe have achieved exceptional marketing success in their local community and business category. These are local companies that enhance the positive image of small business through service to their customers and community. http://www.franklintitleagency.com Keith Stonehouse keith.franklintitle@yahoo.com

Upland Hills Ecological Awareness Center along with the City of Rochester and the Rochester DDA hosted the 4^th annual Earth Day.  It was Michigan's largest Earth Day gathering and was enjoyed over two days with an expected attendance of over 50,000.  Earth day in Rochester offered a wide variety of family fun.  Activities were informative, earth-friendly including: 150+ green and wellness exhibits, presentations and films, alternative vehicle and energy displays, organic food service, farmers' market and petting farm, kids corner, hands-on demonstrations, music and entertainment, prizes drawings, free massage and so much more including a community-building Connections Cafe'.  Connecting with people and creating community solutions for a greener future is the goal of Rochester and Rochester Hills.

 

Family Fun at Earth Day in Rochester Michigan from Cathy Tishhouse on Vimeo.

Earth Day is celebrated in the US on April 22 and is a day designed to inspire awareness and appreciation for the Earth's environment. It was founded by U.S. Senator Gaylord Nelson as an environmental teach-in in 1970 and had developed into a global celebration in many countries every year. This date is Spring in the Northern Hemisphere and Autumn in the Southern Hemisphere. Many cities around the US utilize Earth Day as a time to bring awareness to and act to protect our planet.  It is the largest annual secular event in the world, observed in 150 countries by over one billion people.

Rochester Hills Realtor selling Real Estate in Southeastern Michigan.  TishHouse sells Houses - selling Oakland County Real Estate with RE/MAX Showcase Homes in Birmingham, Michigan. Helping People in a challenging market by specializing in Short Sales. See what my clients have to say about my extraordinary customer service and you can always follow me on Twitter.