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Michigan Real Estate Investment Information - Free CD - Foreclosures Investing Blog Michigan Real Estate Investment Blog My Michigan real estate investment blog on how to find, fix and flip bank foreclosures in Michigan. -- Michigan Real Estate Investment Blog My pursuit of life, liberty, happiness and Killer Foreclosure Deals in Michigan real estate! Bio Unemployable since 2000, Mark Ijlal buys and sells bank foreclosures in the tri-county area in Southeastern Michigan without using any of his own money or credit. He hosts a weekly radio show on real estate investment strategies and coaches other Michigan folks who want to buy and sell Michigan bank foreclosures. He is launching the first ever television show on Michigan real estate investment in 2006 although he has never handled a camcorder in his life. He lives in Oakland County with his business partner and wife Nora with whom he has been stealing apples for 7 years now and their 2 completely out of control toddlers – Hailey and Saige! Mark Ijlal Rules! Mark Ijlal Rules for Making Money, Running Your Business, Investing in Real Estate and Pursuit of Happiness and Faith! My weekly Podcast of my Radio Show (AM1310 Saturdays, 8am-9am) for Michigan real estate investors! Posted every Monday. You can listen to it in iTunes or download the MP3's right here. Launch Date January 10, 2006 Recent Entries Smart Realtor Sends a letter - from Austin, TX Starting your own vs. Franchising Real Estate Tycoon Rising! December 24 Real Estate Warrior Show My Top 10 Predictions for Michigan Foreclosure and Real Estate Market Radio Show Update - Warrior and What is Coming Next in 2006 Snapshot of major Michigan cities Money Magazine Article on Young Guy Made Good Real Estate Search Engines Saying Goodbye to The Michigan Real Estate Warrior Show Search Search this blog: December 29, 2005 Smart Realtor Sends a letter - from Austin, TX I just got a letter in the mail from Rick Ellis – the very smart manager at Prudential Texas Realty in Austin Texas. He sent this letter to My Michigan Coach address as we are listed in couple of real estate directories under the heading of Investment Clubs. In this envelope is his business cards and a newspaper article from a local Austin newspaper. Here is the headline – “Busyers Snapping up Austin Houses”- and then the newspaper article goes on talking about the HOT market in Austin compared to other Dallas cities. On the left hand side margin is a hand written jot – “Let me know if I can be of future help.” Why am I so impressed? Well this is the first time a Realtor has mailed me something like this let alone from outside Michigan. I never understood why most Realtors never bother trying to market themselves to the very profitable, easily reachable and repeat business niche of real estate investors. After all if you were marketing anything like this to the real estate investment community – we are all on the Inernet, there are directories available that identify us, real estate investment clubs and groups, forums that are dedicated to the topic and of course blogs like this. Technorati Tags: Foreclosures Michigan Investing Money Cashflow Real Estate Investment Real Estate Michigan Foreclosure Michigan Foreclosures Foreclosure Michigan Real Estate Real Estate Investing Wealth Posted by Mark at 01:23 PM | Permalink | Comments (0) December 27, 2005 Starting your own vs. Franchising A common comment made at social events when I mention what I do is this – “Wow! That sounds great but I rather buy a franchise. You cannot go wrong with that.” Really!!!! Says Who??? Well off course the franchisers who are making billions selling them. And the magazines (Entrepreneur, Small Business Opportunity, Work At Home etc) that are raking in millions in ad dollars by promoting the same franchisers. For me leaving your job to get a franchise is just getting a different boss – only this time the hours are mucho longer. For the first time in my memory a mainstream publication has the guts to do a “real” story on true story behind franchising – FSB or Fortune Small Business has a terrific story about Risk in Franchising and who mid level executives are being sold into a dream of franchising being “risk free” while shelling out big dollars for buying dozens of territories at a time. Well worth the read if you or your loved ones are contemplating the purchase of a franchise in the near future. I am not saying that all franchises are a losing proposition – they are not! But at the same time walk with your eyes open and don’t believe the hype that buying a franchise is 100% success and starting your own business is a recipe for disaster. Here are some excerpts from the FSB story: “According to the American Association of Franchisees and Dealers, companies that sell franchises go under at a rate of about 15% a year. That means, notes AAFD chairman Robert Purvin, that "in any given five-year period, 75% of franchisors disappear." In the early '90s Timothy Bates, a professor at Wayne State University, studied Census Bureau data on 20,000 new enterprises and found that 38% of franchise units failed over a four-year period, vs. 32% of independent startups. In some industries the gap was much greater. In retailing, for instance, 45% of franchised units lasted less than four years, while just 23% of independent retail stores flopped.” You can read the whole story here in Fortune Small Business . Technorati Tags: Foreclosures Michigan Investing Money Cashflow Real Estate Investment Real Estate Michigan Foreclosure Michigan Foreclosures Foreclosure Michigan Real Estate Real Estate Investing Wealth Posted by Mark at 05:41 PM | Permalink | Comments (0) December 26, 2005 Real Estate Tycoon Rising! Money Magazine article about real estate investment in the "real word" , found here . I find it interesting that children of self employes busyiness people often follow their parents - sometime after trying out the corporate life - into starting their own business. More on that later...... Tycoon in the making By Les Christie, CNN/Money staff writer NEW YORK (CNN/Money) - When Ted Theodoropoulos was about 10 years old, he learned a valuable lesson. "My father bought a corner house in Chapel Hill for $60,000," says Ted. "He intended to knock it down and build another. But before he had a chance to do that, they announced that a mall was going in directly across the street." His father wound up selling the property six months later for a cool $200,000 profit. "It was mostly luck," says Ted. "But it made a big impression on me." Perhaps it has helped focus Ted's entrepreneurial attitude. The 32-year-old North Carolinian has invested in three properties during the last two years and is looking for more. Ambition and Ted are well acquainted. His mom and his dad have both been business owners, in addition to dabbling in real estate. Ted himself started a company, a collection agency, when he was still in college. It was his mother who made the suggestion that launched his company. She was a restaurant owner who had taken some bad checks and she didn't have the time to pursue them herself. She told Ted she would give him a fee for any accounts he was able to make good. Ted was so successful that he dropped out of school and started a collection agency. It began with restaurant clients, then branched out to corporations, such as Lucor and Time Warner Cable, for which he collected equipment when customers moved away or fell behind in bills. At the peak, Ted employed 15 to 20 people. He ran it full time for a year as he attended night classes. It proved lucrative enough that his mother and a brother joined the business. After college, where he studied information technology, Microsoft offered him a good job, "50 percent more than I was making at the collection agency," he says. So he turned the collection business over to his brother and mother, and went to work at Microsoft's Charlotte office. He stayed there for a year or so and then went to work crunching data for a major bank, where he is a vice president today. First foray In 2001, Ted made his first real estate purchase, a one-bedroom condo in downtown Charlotte. He he paid $145,000 and it's now worth about $235,000. Watching the value soar "got my wheels turning." At the time, a bank colleague was supplementing her income flipping properties regularly. "She was not hitting the ball out of the park," he says, "But she was doing well." Through her, he met a broker who asked about Ted's means and goals: How much did he have to invest? Did he want to manage the property? What return was he looking for, and in what time frame? "He gave me a realistic picture of the business," says Ted. "A lot of it -- like cleaning up after tenants and chasing them for rent -- is undesirable." But Ted was used to working with credit reports and "skip traces," which enable collectors to track down people. So in early 2002, he bought a three-bedroom, one-bath, brick ranch near a gentrifying part of town. He paid only $72,000 plus a little more fixing the cosmetics and installing new air and floors. "I rented it out for a year," he said. "Then my mother and brother moved down to Charlotte and started living in the place." The two had put up some of the money for the house, as they have with subsequent ventures. The home's value has risen to the low $90s. Shopping for foreclosures The next step was to plunge into the foreclosure market. This is always a gamble because home inspections can be difficult to arrange making it tough to analyze how much more cash will have to be invested. On the other hand, foreclosures can be great bargains. Ted, for example paid less than $40,000 for two condos near downtown Charlotte. The first, a one-bedroom, was just $17,000. He rents it for $500 a month and values the property at $35,000 today. The second is a two-bedroom, one-bath, 900-square-foot he closed on last December. One of the reasons it interested him is that the condo board was spending to improve the property. "There's an undesirable neighborhood next to the condos and it's keeping the property values down," says Ted. "But the board was talking of a special assessment to pay for a fence to block it off from the bad area." He felt that with such steps the apartment would be worth much more than the $22,000 he paid. Ted wants to sell this apartment and has put it on the market for $44,500, which would mean a profit of $20,000. Although he has proceeded cautiously, Ted envisions expanding more rapidly. Right now, he wants to do more low-risk deals until he learns the real estate business inside and out. Ultimately, he would like to involve his two other brothers in it as well. "When you're working with your brother, you know you're going to get a straight deal," he says. Technorati Tags: Foreclosures Michigan Investing Money Cashflow Real Estate Investment Real Estate Michigan Foreclosure Michigan Foreclosures Foreclosure Michigan Real Estate Real Estate Investing Wealth Posted by Mark at 01:26 AM | Permalink | Comments (0) December 25, 2005 December 24 Real Estate Warrior Show Wrap up of the year 2005 in the lastest show, emails answered and preview of what is coming next. This is the last Real Estate Warrior Show - of the year and its kind. January 8th, 2006 I will be back with a new radio show on AM1310 (for those who care to listen LIVE) and a new Podcast. All the subsequent shows will be available for download only on Mark Ijlal dot com. Just dont have time to manage mulitple sites. MP3 File Posted by Mark at 01:17 PM | Permalink | Comments (0) December 24, 2005 My Top 10 Predictions for Michigan Foreclosure and Real Estate Market A little Christmas gift for my blog readers and radio show listeners. Download a brand new closed door presentation that I recently did in front of my coacing group members. Never released before - My Top 10 Trends Predictions for Michigan Real Estate and Foreclosure Market in 2006. Available for your download till Midnight, December 31, 2005. You can check it out at our new site for Michigan Foreclosure Investors Technorati Tags: Foreclosures Michigan Investing Money Cashflow Real Estate Investment Real Estate Michigan Foreclosure Michigan Foreclosures Foreclosure Michigan Real Estate Real Estate Investing Wealth Posted by Mark at 08:38 AM | Permalink | Comments (0) December 23, 2005 Radio Show Update - Warrior and What is Coming Next in 2006 Thank you to hundreds of you who wrote last night to me about the radio station. I can tell you that you changed my mind. Sometime I forget that how many people make use of this information that I humbly put out. But this is what you told me: 1. Everybody loves the idea of downloading the show. That will continue. However the Real Estate Warrior Show site is going away. The links for downloads will be at my blog, starting from New Year. It is just too hard to maintain all these sites especially I am not a techie. I am consolidating everything under just three sites – this blog, My Michigan Coach site which is my Michigan personal coaching site and Foreclosure Tour which is our Spring / Summer Michigan Foreclosure Tour thing that Darrick and Nora do. 2. Podcasting – everybody and I mean everybody complained because I don’t update on a regular basis. My fault completely and truthfully I never knew so many people were Podcasting it. But that will change immediately. When the show is put on the site – it will be Podcasted so you can get it in iTunes etc. 3. Bigger station – I am switching to AM 1310 Detroit Progressive Talk Station – they have a much bigger coverage than AM 1400 which hopefully means that better coverage in the tri-county area. 4. LIVE – still doing LIVE radio so you can call and talk and ask questions. 5. Saturday – everybody hated Sunday’s idea – so we left it at Saturday – 8am to 9am. One hour early but still Saturday. That was one of the biggest demands from everybody. 6. Some people asked me that the reason I am thinking about doing Internet radio so I can stop talking about Michigan real estate and talk about generic real estate. That will NEVER – EVER happen. I am no desire, surprising as it may sound to talk generic stuff. Michigan is what it is today and Michigan is what is going to be talked about tomorrow. If this stuff works someplace else – as many of your politely point out to me all the time :- ) – that is fine with me but I just have no desire or ambition to change the Michigan feel of my show. So thank you once again to all of you who send in your input regarding the Radio Show. Mucho Appreciated! Posted by Mark at 01:23 AM | Permalink | Comments (0) Snapshot of major Michigan cities This is a good link on CNN / Money site about Michigan - it has good data about the major Michigan cities. Good stuff to know if you are investing in these cities or to include in your Private Lender Kits. Posted by Mark at 01:07 AM | Permalink | Comments (0) December 20, 2005 Money Magazine Article on Young Guy Made Good Finally an article on real estate investment in a mainstream magazine which is not titled, Is The Party Over? (Yawn!) You can read the orignial article at Money Magazine site here or down below: Tycoon in the making Minnesotan Joshua Carlson turned a $5,000 investment into a million-dollar real estate portfolio By Sarah Max BEND, Ore. (CNN/Money) – Joshua Carlson was just an undergraduate business major at the University of Minnesota when he set his sights on his first real estate investment: a duplex he and a friend were renting near campus in Minneapolis. "It was the perfect set up," said Carlson, 31. "I knew I wasn't going anywhere for a while, and I knew my neighbors didn't want to go anywhere for a long time, either." Though the building wasn't for sale, Carlson started talking to his landlord about the possibility of buying it. Eventually, they struck a deal. With a $5,000 down payment and financing through his landlord, Carlson bought the building for $105,000 shortly after finishing his undergraduate degree. Carlson paid his landlord 8.5 percent interest on a 30-year loan he could pay off any time, which he did when he refinanced two years later. "That guy really helped me out," said Carlson of his former landlord. Now, the duplex is worth three times what he paid for it, according to a recent appraisal. No vacancy By day, Carlson works as a technology consultant earning between $80,000 and $100,000 a year. By night, he is in his second year at William Mitchell School of Law, where he is focusing on real estate law. In November, Carlson will close on his fifth property, bringing his real estate portfolio to about $1.75 million. He estimates his equity portion is about $600,000. Buying real estate was a natural progression for Carlson. He started mowing lawns in grade school and paid his way through college working at a public golf course in the summer and at an ice rink – as a Zamboni driver – in the winter. "My brother used to call me Alex P. Keaton," he said, referring to Michael J. Fox's financially astute character on "Family Ties." In 1998, Carlson bought a second duplex on the same block as his first unit. This building was also not for sale, but Carlson searched the county's property information and tracked down the owners. "I sent them a letter and they responded favorably," said Carlson, who negotiated another contract for deed for $110,000 until he could refinance at a lower rate. In 2000 Carlson, tapped his savings to buy a third duplex, and in 2002 he bought a fourth one, which is where he lives now. "The common theme to all of the properties is they're in nice neighborhoods and they're within two blocks of water," said Carlson, who also contributes twice monthly to an investment account worth about $70,000. He favors older Minneapolis neighborhoods over the suburbs because he knows those areas well, and he thinks rental demand is strong in them. "The only vacancy I've had in all of this time is about two to three months," said Carlson, whose tenants are primarily graduate students at the university. He rarely advertises for his apartments. Instead, he depends on recommendations from his existing renters. Living rent free Carlson's total cost for the four properties is about $7,600 a month, including mortgage payments, property taxes, homeowners insurance and routine maintenance. Meanwhile, he collects $7,800 a month in rent and lives "rent" free. "I don't really care about year-to-year fluctuations (in the real estate market) as long as the rents pay the mortgage," said Carlson. His goal is to accumulate as much property as possible, pay it off within the next 25 years and live off of the rent. "Even if the property doesn't appreciate, you still have income." In November, Carlson will close on a new condominium in downtown Minneapolis, which he and a friend agreed to buy for $166,000 three years ago when the project was speculative. The price of condos in the building has gone up about 10 percent a year, according to Carlson. When he graduates from law school in late 2005, Carlson hopes to trade his consulting job for one that focuses almost exclusively on real estate. Meanwhile, he wants to buy a larger apartment building using a 1031 exchange, which is a tax maneuver that would allow him to trade his duplex for another building but avoid paying capital gains taxes. "I'm trying to find a mentor who can help me take the next step," said Carlson. "I don't need someone to hold my hand but it would be nice to work with someone who's already done what I'm trying to do." Technorati Tags: Foreclosures Michigan Investing Money Cashflow Real Estate Investment Real Estate Michigan Foreclosure Michigan Foreclosures Foreclosure Michigan Real Estate Real Estate Investing Wealth Posted by Mark at 12:01 AM | Permalink | Comments (0) December 19, 2005 Real Estate Search Engines Wall Street Journal today has an interest article about going above and beyond Google for Search. They showcased these 2 websites for finding a home for sale or rent. A quick way of checking what the houses are going for in your home turf in Michigan. Homepages collects online listings from different websites and conveniently displays them in one location. They do pretty decent in big cities although smaller cities seemed to be limited according to WSJ. Oodle is another story altogether - it searches classified ads - for real estate as well as other listings - and allow users to filter results by location, price, number of bedrooms and other cirteria. You can also have new listings email to as they are posted. Technorati Tags: Foreclosures Michigan Investing Money Cashflow Real Estate Investment Real Estate Michigan Foreclosure Michigan Foreclosures Foreclosure Michigan Real Estate Real Estate Investing Wealth Posted by Mark at 06:05 PM | Permalink | Comments (0) December 18, 2005 Saying Goodbye to The Michigan Real Estate Warrior Show Christmas Eve, December 24, 2005 is my last radio show at WDTK 1400AM. I have decided to move the radio show to the Internet as a full fledge downloadable show / Podcast or better still go _____________. Why? Well first I never thought that so many people would download the show from the site and especially from the Podcast. Here I am, driving around between Madison Heights and Bloomfield Hills, going by my way and hundreds and hundreds of downloads every day. Very humbling. And a great deal of responsibility to deliver. Then one hour is not really enough to get into the really meat of things. I want to have a show where we can analyze the different ways there is money to be made in Michigan real estate, but radio has its own schedule and all they can give is 57 minutes. Then I have been thinking about doing a television show – either on Comcast cable system or doing streaming video on the Internet. I am a big believer in the power of Internet in transforming the business of buying and selling real estate and I think that a huge change is right on the horizon for people who are agile enough to cash in. I am talking about video on the Internet. It has become cheaper and downright easier to put video on the Internet. All you need is a digital camcorder (DV) and a Firewire cable and you are in business in 20 minutes. There is so much that video can show that radio cannot. You can show a house, see the wonderful people that make up my coaching group, meet real life Michigan real estate investors and also the advanced level plays being made by people in the know. So with that circulating in my mind, I pulled the plug on the Real Estate Warrior Show. I can tell you one thing, with great satisfaction – in 12 weeks I have created the biggest weekend hit that station have ever seen in their history. They wanted me to coach all new radio show hosts to generate this much buzz. Funny when you add the fact that I got turned down by every single radio station in metro Detroit area because of my accent. But the new thing – whether Podcast, downloadable MP3 or video – is starting January 2006 – I am looking at all my options, wishing that I would have hurried up and hired the personal assistant that I need right now to play catch up with all this. It was an interesting experience and helped me learn a whole about radio. We actually have an entire radio campaign running on 107.5 where I wrote the 60-second commercial to sell our properties. I will have the MP3 next week and I will put up here so everybody can listen to it. It is a different twist on selling houses and I think it will work very well in the long run. Technorati Tags: Foreclosures Michigan Investing Money Cashflow Real Estate Investment Real Estate Michigan Foreclosure Michigan Foreclosures Foreclosure Michigan Real Estate Real Estate Investing Wealth Posted by Mark at 09:49 PM | Permalink | Comments (0) A child to inspire A very cool and inspiring video . Hat tip to Brad Fallon for pulling this up. Posted by Mark at 07:44 PM | Permalink | Comments (0) The voice of a Michigan Real Estate Investor If you ever had the misfortune of working as a telemarketer in a big room environment then you would probably know already what I am talking about. Your voice has carries much more than you think – smile, happiness, confidence, sadness, despair, anxiety and anger – big telemarketing departments actually have mirrors installed on top of the workstations so people can actually smile when they are taking inbound or outbound calls. Your smile shows in your voice. Notice some people “sound” happy yet other sound miserable. Why is it important for you as a Michigan real estate investor? 1. If you are running an advertising campaign to attract motivated sellers – their first personal contact with you is almost always on a phone call. They will hear your voice before they meet you. 2. If you are selling a house that you have just renovated to sell – your buyers will talk to you first before actually going to the house or meeting your face to face. 3. If you are talking to a private lender – most likely some conversation will happen on the phone before a personal meeting. Our business is a “phone business” – meaning there is a more time that you will talk to people, for the first time ever and all they have is your voice to go on. Here is the funny part – the way you sound on the phone is completely different from the way you “think” you sound on the phone. If you are coaching group member and you talked to me last week on the one on one call – go to the Members Only area and download your session and listen to it. I bet you that you will be surprised on how you sound. I talk a lot – on the phone and most of the time I will tape my own calls and listen to them later. A good way to find out how you sound when talking to prospective buyers, motivated sellers, private lenders etc – is to invest in the cheapest digital voice recorder you can find - $50 will buy you a pretty decent one and start taping yourself. And then actually listen to your conversation later and see if you like you what you hear. The ability to talk well on the phone – sound confident, happy and on top of your game – is a great skill to develop. Nobody is born with it – after all we all came to this world without any voice. We all learn it as we go along. So it is a skill that could be learned and you can become better at it. I know that I have improved tremendously in the last two years over the phone. I still have some of my old recordings and I sound horrible. But that was one thing that I always thought would be a good skill to have and I worked on it. By the way, if you are having a bad day – don’t take calls from anybody in your real estate business – misery has a way of multiplying. Turn the phone off and take it easy for the day. If you take a second and think about it – the last time you called your doctor to get an appointment, made a business call to set an appointment, got a call from one your advertisement running to get homeowners in preforeclosure to call you – what impressions you formed in the first 30 seconds you started talking? I had two very smart people in my Gold/VIP coaching group in 2005 which just concluded – Susan Berkley a voice coach who was actually on Apprentice Season 4 coaching the contestants who to speak better and Chris Mullins who has training business teach sales people and everybody else how to talk better on the phone. The astonishing part about all this – how bad most people sound on the phone whose entire job description consists of taking phone calls. If you have somebody else taking phone calls – business partner, significant other, employee, answering service – mystery shop them, tape it and listen to it. You will be surprised. The key to getting better at this is one to know how you sound like right now (tape it), and notice what people actually make you want to talk to them over the phone. Technorati Tags: Foreclosures Michigan Investing Money Cashflow Real Estate Investment Real Estate Michigan Foreclosure Michigan Foreclosures Foreclosure Michigan Real Estate Real Estate Investing Wealth Posted by Mark at 06:33 PM | Permalink | Comments (0) December 06, 2005 Oakland County Real Estate Update Here are the houses sold and closed last week in Oakland County for the week of 12/4 according to Detroit Free Press: Oakland County December 4, 2005 Auburn Hills 186 Amys Walk, $170,000 3047 Carly Ct., $116,000 2260 Commonwealth Ave., $175,000 3720 Eaton Gate Ln., $315,000 3568 Grove Ln., $214,000 2666 Hatton Rd., $50,000 2305 Oaknoll St., $58,000 1208 Taylor Rd., $170,000 Berkley 711 Columbia Rd., $185,000 1628 Columbia Rd., $183,000 1921 Columbia Rd., $148,000 2869 Cummings Ave., $188,000 3734 Greenfield Rd., $171,000 3682 Robina Ave., $153,000 2045 Sunnyknoll Ave., $110,000 Beverly Hills 21520 Corsaut Ln., $550,000 15948 Dunblaine Ave., $337,000 18674 W 13 Mile Rd., $225,000 16161 Wetherby St., $305,000 Birmingham 529 Bloomfield Ct., $224,000 1592 E Lincoln St., $228,000 1373 E Melton Rd., $288,000 740 Humphrey Ave., $647,000 347 N Eton St., $135,000 361 N Eton St., $117,000 1522 Penistone St., $160,000 1264 S Eton St., $255,000 1841 Stanley Blvd., $290,000 575 Vinewood Ave., $495,000 535 W Merrill St., $500,000 2112 Yorkshire Rd., $325,000 Bloomfield Hills/Township 3641 Berkshire Dr., $585,000 5980 Blandford Rd., $615,000 5132 Forest Way, $425,000 5312 Forest Way, $450,000 5390 Hollow Dr., $399,000 1928 Klingensmith Rd., $145,000 2252 Lancaster Rd., $180,000 6712 Mark Ct., $284,000 2561 Middlebury Ln., $356,000 5568 N Adams Way, $290,000 500 Overhill Rd., $790,000 4000 Overlea Ct., $835,000 4960 Ranch Ln., $360,000 5699 Raven Rd., $473,000 1655 S Hill Blvd., $150,000 1806 S Hill Blvd., $189,000 827 S Pemberton Rd., $450,000 1201 Trowbridge Rd., $2,750,000 6743 Vachon Dr., $455,000 Clarkston 6807 Almond Ln., $184,000 5940 Baypointe Blvd., $285,000 5063 Cecelia Ann Ave., $120,000 5754 Chestnut Hill Dr., $250,000 5037 Clintonville Pines Dr., $195,000 7190 Elderwood Cir., $295,000 4425 Elmdale Ave., $170,000 225 Maplewood Dr., $290,000 4886 Menominee Ln., $387,000 8635 N Eston Rd., $170,000 3250 Oakhill Pl., $235,000 6372 Peach Dr., $162,000 6827 Snow Apple Dr., $199,000 5015 Timber Lake Trl., $750,000 6351 Waldon Center Dr., $194,000 9591 Westwood Cir., $120,000 Clawson 245 E Baker Ave., $105,000 576 E Baker Ave., $170,000 1269 Kenilworth Pl., $202,000 694 Lincoln Ave., $159,000 Farmington 21310 Birchwood St., $215,000 23114 Farmington Rd., $145,000 Farmington Hills 21634 Albion Ave., $100,000 29136 Aranel St., $219,000 27319 Arden Park Cir., $206,000 30044 Astor St., $177,000 22247 Atlantic Pointe, $123,000 27920 Berrywood Ln., $99,000 28337 Brandywine Rd., $275,000 25581 Briarwyke Dr., $264,000 34335 Colfax Dr., $161,000 27987 Copper Creek Ln., $515,000 27459 Cranbrook Dr., $364,000 36972 Dartmoor Dr., $175,000 36964 Fox Run, $428,000 29111 Glenarden St., $248,000 29230 Greening St., $230,000 29615 Greening St., $217,000 26304 Greythorne Trl., $275,000 29889 Harrow Dr., $500,000 28790 Kendallwood Dr., $245,000 39100 Lancaster Dr., $293,000 28862 Lincolnview Dr., $250,000 24080 Lori Ct., $270,000 31702 N Marklawn St., $225,000 29406 Pendleton Club Dr., $131,000 33625 Rhonswood St., $195,000 24677 Springbrook Dr., $210,000 22061 Tredwell Ave., $178,000 23159 Tuck Rd., $169,000 23150 Tulane Ave., $190,000 31274 Westwood Rd., $449,000 27247 Winterset Cir., $450,000 29750 Woodbrook St., $239,000 Ferndale 21052 Bethlawn Blvd., $156,000 713 E Chesterfield St., $132,000 505 E Marshall St., $104,000 445 E Saratoga St., $129,000 2202 Garfield St., $142,000 410 Leroy St., $126,000 1101 Rosewood St., $104,000 647 Saint Louis St., $100,000 656 Spencer St., $108,000 572 W Breckenridge St., $211,000 474 W Hazelhurst St., $139,000 706 W Hazelhurst St., $210,000 366 W Webster St., $188,000 666 Withington St., $187,000 432 Wordsworth St., $125,000 Franklin 30715 N Greenbriar Rd., $375,000 24620 S Cromwell Dr., $410,000 Holly 3211 Belford Rd., $320,000 6840 Big Trail Rd., $182,000 9568 Bloomhill Dr., $200,000 322 Crescent Ave., $123,000 3845 Demode Rd., $192,000 11379 Dixie Hwy., $168,000 124 E Rattalee Lake Rd., $217,000 7995 Hickory Ridge Rd., $255,000 7050 Milford Rd., $160,000 8011 Milford Rd., $265,000 Huntington Woods 26401 Dundee Rd., $325,000 Lake Orion 1932 Amsbury Ln., $204,000 3196 Beechtree Ct., $88,000 2428 Cedar Key Dr., $299,000 3063 Cedar Key Dr., $231,000 117 Evergreen Trl., $172,000 2757 Fox Hollow Ct., $92,000 3804 High Grove Way, $437,000 3977 High Grove Way, $438,000 801 N Conklin Rd., $163,000 2671 Regency Dr., $220,000 1814 S Lapeer Rd., $157,000 701 Victoria Is., $230,000 Madison Heights 26619 Alden St., $152,000 30232 Alger St., $112,000 30824 Blairmoor Dr., $191,000 27722 Brettonwoods St., $119,000 26131 Brush St., $136,000 27323 Brush St., $145,000 1535 Connie Ave., $155,000 28360 Couzens Ave., $153,000 28361 Delton St., $161,000 85 E Kalama Ave., $129,000 1108 E Rowland Ave., $153,000 28606 Freda Ct., $155,000 26576 Hampden St., $80,000 31283 Maple Ridge Ln., $265,000 1350 Maureen Ave., $149,000 29348 Shackett Ave., $133,000 25833 Truman St., $105,000 Milford 536 Canal St., $245,000 3123 Canyon Oaks Trl., $770,000 3164 Canyon Oaks Trl., $1,180,000 735 Mill St., $284,000 617 Telya Rdg., $308,000 163 Turnberry Ct., $265,000 2150 W Dawson Rd., $318,000 2080 Wildflower Ln., $463,000 Northville 795 Carpenter St., $123,000 21195 Lujon Dr., $372,000 46805 S Chigwidden Dr., $251,000 50965 Sunday Dr., $735,000 20807 W Glen Haven Cir., $148,000 Novi 44750 Bayview Dr., $153,000 41887 Cantebury Dr., $193,000 23764 E Le Bost, $156,000 24585 Edgewood Dr., $268,000 23625 Londonderry, $195,000 22557 Moorgate St., $384,000 31151 Rolling Grove Dr., $245,000 25928 Sierra Dr., $215,000 25050 Sullivan Ln., $292,000 41668 Tera Ln., $311,000 40740 Village Oaks, $246,000 Oak Park 24330 Berkley St., $168,000 13681 Borgman St., $146,000 10211 Burton Ave., $200,000 23701 Church St., $148,000 21601 Gardner St., $135,000 13640 Lincoln St., $140,000 21821 Marlow St., $145,000 25990 Marlowe Pl., $197,000 21710 Parklawn St., $110,000 10731 Saratoga St., $80,000 26101 Stratford Pl., $240,000 15221 W 9 Mile Rd., $67,000 Pontiac 671 2nd Ave., $137,000 308 Arnold Ave., $232,000 209 Edison St., $79,000 486 Elm St., $117,000 224 Going St., $117,000 507 Harper St., $81,000 649 Lebaron Ave., $110,000 639 Lewa Downs Dr., $134,000 674 Lydia Dr., $134,000 613 Markle Ave., $125,000 407 N Cass Ave., $75,000 68 Putnam Ave., $64,000 655 Rosewood Pl., $70,000 253 Samburu St., $210,000 230 Stonegate E, $176,000 32 W Longfellow Ave., $175,000 27 W Princeton Ave., $90,000 Rochester 512 Renshaw St., $208,000 365 South St., $195,000 Rochester Hills 798 Apple Hill Ln., $585,000 245 Avalanche Dr., $321,000 337 Essex Dr., $328,000 735 Hamilton Ct., $180,000 2421 Harrison Ave., $130,000 1510 Hidden Valley Ln., $164,000 1793 Kilburn Rd.N, $355,000 833 Langdon Ct., $163,000 6225 N Rochester Rd., $610,000 2695 Oak View Ct., $320,000 1072 Paint Creek Ln., $173,000 503 Plymouth Ct., $199,000 859 Rambling Dr., $355,000 1339 Royal Crescent St., $285,000 2237 Siboney Ct., $170,000 1586 Streamwood Ct., $145,000 521 Utah Rd., $237,000 2105 Warrington Rd., $235,000 3642 Warwick Dr., $518,000 361 Willow Grove Ln., $165,000 South Lyon 56270 9 Mile Rd., $445,000 61145 Brookway Dr., $335,000 226 Easton Dr., $360,000 1134 Gentry Dr., $90,000 726 Kestrel Ct., $250,000 22210 Quail Run Ct., $180,000 61860 Richfield St., $204,000 53212 Shinnecock Dr., $95,000 379 Stanford Ave., $192,000 Southfield 27369 Aberdeen St., $210,000 28784 Aberdeen St., $98,000 25980 Acacia St., $227,000 17121 Anna St., $220,000 28709 Brentwood St., $136,000 19262 Dorset St., $158,000 28515 E Kalong Cir., $420,000 24746 Edgemont Dr., $210,000 23470 Edinburgh St., $180,000 29137 Evergreen Rd., $132,000 17652 Gateway Cir., $177,000 23209 Grayson Dr., $168,000 23297 Grayson Dr., $158,000 21751 Hidden Rivers Dr.N, $125,000 20840 McClung Ave., $188,000 21226 Midway Ave., $145,000 23596 Norcrest Dr., $164,000 27725 Pierce St., $197,000 30585 Pierce St., $304,000 29335 Pinetree Dr., $250,000 19688 Raleigh Cir. S, $123,000 29303 Rambling Rd., $162,000 28651 Regent Ct.N, $100,000 20330 Rodeo Ct., $180,000 19439 Silvercrest St., $255,000 15626 Stone Crossing Dr., $178,000 19930 Villa Dr.S, $163,000 19950 Villa Dr.S, $170,000 24585 W 10 Mile Rd., $121,000 19810 W 12 Mile Rd., $81,000 25810 W 12 Mile Rd., $180,000 Troy 5270 Allison Dr., $330,000 2827 Amberly Ln., $440,000 5798 Andover Rd., $523,000 3214 Camden Dr., $259,000 3226 Camden Dr., $281,000 3291 Camden Dr., $295,000 1543 Charlevois Dr., $342,000 1974 Deloy Dr., $170,000 1076 Fountain Dr., $362,000 2033 Hartshorn Ave., $302,000 3976 Meadowbrook Dr., $307,000 5798 Northfield Pkwy., $160,000 5818 Northfield Pkwy., $215,000 6869 Northpoint Ct., $317,000 1439 Peachtree Dr., $248,000 4911 Pickford Dr., $352,000 6740 Redford Cir., $350,000 163 Tacoma Dr., $163,000 2089 Topaz Dr., $265,000 4110 Washington Crescent Dr., $265,000 3786 Wayfarer Dr., $363,000 6780 Woodcrest Dr., $430,000 5821 Wright Dr., $225,000 Walled Lake 1986 Carsons Cv., $833,000 27105 Chantel Dr., $210,000 370 Cherry Grove Ln., $325,000 17201 Chesapeake Cir., $164,000 17209 Chesapeake Cir., $177,000 103 Chestnut Rdg., $280,000 1556 Dover Hl. S, $139,000 569 E Walled Lake Dr., $203,000 1412 Hidden Meadows Dr.E, $159,000 246 Neptune Dr., $130,000 1870 Plumridge Ct., $331,000 627 S Pontiac Trl., $220,000 West Bloomfield 4987 Arbor Ct., $396,000 3631 Bayou Dr., $360,000 2480 Beachview Ln., $419,000 7339 Brookridge Dr., $295,000 5320 Cedar Grove Ct., $335,000 4284 Claire Ct., $290,000 7342 Crackling Creek Cir., $400,000 2071 Daintree Ave., $423,000 5393 Deerfield Village Dr., $370,000 4115 E Newland Dr., $485,000 7331 Edinborough, $251,000 6605 Heron Pt, $318,000 4009 Iverness Ln., $254,000 4932 Lake Bluff Ct., $382,000 2951 Long Ridge Ct., $620,000 6078 Orchard Woods Dr., $506,000 2369 Pine Lake Rd., $995,000 5573 Silver Pond, $608,000 5275 Simpson Lake Rd., $310,000 2830 Treyburn Ln., $430,000 2857 Water Oaks Dr., $365,000 7009 Wildridge Ln., $261,000 6354 Wood Pond Rd., $355,000 White Lake 7008 Biscayne Ave., $310,000 71 Blackberry Dr., $339,000 9068 Julia St., $108,000 5999 S Bryan, $310,000 3295 Silver Ridge, $224,000 8028 Springdale Dr., $250,000 890 Sunnybeach Blvd., $275,000 2632 W Meadow Dr., $177,000 Technorati Tags: Foreclosures Michigan Investing Money Cashflow Real Estate Investing Real Estate Investment Real Estate Posted by Mark at 11:28 PM | Permalink | Comments (0) Wayne County Real Estate Update These are the houses sold and closed during the week of December 4, 2005 in Wayne County, Michigan. Wayne County December 4, 2005 Allen Park 17213 Allen Park $132,000 10132 Allen Rd.$155,000 14902 Jonas Ave. $148,000 6384 Kolb Ave. $175,000 15566 Meyer Ave. $125,000 17272 O'Connor Ave. $164,000 8402 Quandt Ave. $168,000 17415 Russell Ave. $95,000 Belleville 27 Bedell St.$184,000 308 Edison Ave. $241,000 49425 Judd Rd.$176,000 48880 Wear Rd.$359,000 Brownstown Township 24500 Bailey Rd.$193,000 28374 Brookfield Ct.$94,000 24440 Christian Dr.$230,000 17815 Clover St.$80,000 27121 Debiasi Dr.$75,000 20030 Hidden Oaks Dr.$130,000 20031 Hidden Oaks Dr.$120,000 21306 Hildebrandt Dr.$258,000 31786 Honey Suckle Dr.$60,000 35604 Leland St.$96,000 21596 Majestic Dr.$155,000 21597 Majestic Dr.$152,000 3190 Marigold Drive $207,000 17421 Michigan $213,000 27512 Mill Creek Dr.$243,000 27160 Newberry Blvd. $317,000 23508 Stacey Dr.$224,000 20086 Twin Pond Dr.$320,000 27769 Warbler Ct.$116,000 27785 Warbler Ct.$90,000 27786 Warbler Ct.$114,000 20530 Woodruff Rd.$194,000 Canton 2494 Amber Dr.$290,000 1944 Bellingham St.$220,000 47951 Cardiff Ave. $168,000 1872 Cedar Valley Dr.$175,000 140 Cherry Grove Rd.$253,000 40645 Deer Creek Ct.$330,000 1276 E Franciscan Ct.$252,000 6532 Edgewood Rd.$234,000 8158 Endicott Ln. $176,000 1011 Foothill Rd.$287,000 1164 High Ridge Dr.$252,000 4480 Hunters Cir. $158,000 4249 Hunters Cir. E $157,000 48492 Inveraray Rd.$538,000 6676 Kings Mill Dr.$430,000 2287 Knollwood Dr.$162,000 2238 Lone Wolf Ln. $198,000 39951 Lynn St.$179,000 1311 Mistwood Ct.$303,000 8383 New Haven Way $442,000 7195 Oakleaf Ct.$279,000 40556 Ramblewood Ct.$243,000 42902 Saxony Rd.$248,000 46610 Spinning Wheel Dr.$275,000 4255 Strathmore Ln. $221,000 1891 Vine Way Dr.$136,000 1419 Witland Dr.$200,000 7045 Woonsocket St.$233,000 555 Worthington Rd.$170,000 Ecorse 3845 11th St.$65,000 4571 7th St.$84,000 4236 9th St.$78,000 4067 High St.$78,000 18 Knox St.$79,000 Flat Rock 24541 Fairlawn Dr.$134,000 29380 Olmstead Rd.$204,000 27801 Warlber Court $87,000 Garden City 32324 Alvin St.$129,000 33521 Alvin St.$125,000 30099 Balmoral St.$144,000 33551 Florence St.$144,000 7070 Harrison St.$138,000 31920 John Hauk St.$144,000 28952 Marquette St.$149,000 31732 Pierce St.$161,000 29203 Rush St.$140,000 32240 Sheridan St.$165,000 Gibraltar 28989 EW Hedke Ct.$218,000 1406 Humbug Island Ct.$211,000 Grosse Ile 22026 Balmoral Dr.$370,000 9614 Parkway Dr.$225,000 Grosse Pointe 551 Fisher Rd.$410,000 419 Lincoln Rd.$535,000 524 Notre Dame St.$205,000 794 Notre Dame St.$300,000 800 Washington Rd.$517,000 Grosse Pointe Farms 33 Beaupre Ave. $287,000 252 Fisher Rd.$300,000 410 Hillcrest Ave. $196,000 207 McMillan Rd.$360,000 134 Meadow Ln. $390,000 316 Merriweather Rd.$435,000 351 Moselle Pl.$255,000 282 Stephens Rd.$230,000 140 Tonnacour Pl.$482,000 Grosse Pointe Park 15001 Kercheval St.$285,000 1348 Maryland St.$65,000 949 Nottingham Rd.$173,000 1375 Yorkshire Rd.$513,000 Grosse Pointe Shores 75 Roslyn Rd.$835,000 Grosse Pointe Woods 20060 Baltree Ct.$240,000 2127 Beaufait Dr.$253,000 21659 Centerbrook Ct.$288,000 1331 Hampton Rd.$200,000 1339 Hampton Rd.$228,000 19283 Linville St.$232,000 1838 Manchester Blvd. $148,000 947 Moorland Dr.$312,000 961 Moorland Dr.$373,000 619 Peachtree Ln. $240,000 975 S Brys Dr.$320,000 1181 S Oxford Rd.$483,000 20741 Virginia Ln. $275,000 Hamtramck 3330 Comstock St.$120,000 5057 Edwin St.$75,000 3210 Holbrook St.$110,000 12031 Sobieski St.$80,000 2603 Trowbridge St.$53,000 Harper Woods 20870 Beaufait St.$133,000 20002 Fleetwood Dr.$190,000 20228 Hunt Club Dr.$148,000 18785 Kenosha St.$101,000 20303 Roscommon St.$120,000 19893 Rose Ct.$142,000 20468 Washtenaw St.$116,000 21170 Woodmont St.$153,000 20045 Woodside St.$180,000 Highland Park 60 Florence St.$61,000 185 Hill St.$60,000 218 Pasadena St.$70,000 Inkster 301 Arlington St.$111,000 29137 Beechnut St.$116,000 28254 Deplanche Ln. $107,000 29141 Gertrude Ct.$89,000 26451 Hopkins St.$75,000 29177 Rosewood St.$87,000 29684 Spring Arbor Dr.$111,000 532 Sunningdale Dr.$120,000 1308 W River Park Dr.$95,000 27025 Yale St.$78,000 Lincoln Park 1308 Austin Ave. $70,000 1423 Austin Ave. $140,000 2059 Buckingham Ave. $98,000 2226 Calvin Ave. $134,000 2014 Champaign Rd.$134,000 1665 Chandler Ave. $105,000 1331 Ferris Ave. $82,000 1269 Fort Park Blvd. $89,000 1756 Fort Park Blvd. $105,000 4116 High St.$139,000 1756 Kings Hwy. $140,000 1363 Lejeune Ave. $165,000 1516 Marion Ave. $77,000 2075 Moran Ave. $50,000 1824 Myron Ave. $137,000 1420 Pagel Ave. $147,000 1387 Philomene Blvd. $102,000 2458 Pingree Ave. $110,000 1704 Progress Ave. $110,000 1853 Russell Ave. $130,000 Livonia 36039 6 Mile Rd.$249,000 33919 8 Mile Rd.$120,000 16020 Alpine Dr.$305,000 35020 Andrea Ct.$155,000 19410 Antago St.$127,000 14741 Arcola St.$175,000 9832 Arden St.$235,000 20330 Beatrice St.$165,000 19154 Beaverland $223,000 11425 Blackburn St.$262,000 37745 Bloomfield Dr.$279,000 19305 Brentwood St.$193,000 32935 Brookside Cir. $264,000 32982 Brookside Ct.$384,000 28594 Clarita St.$195,000 17251 Fairfield St.$381,000 16227 Fairlane Dr.$231,000 18255 Foch St.$150,000 14456 Gary Ln. $214,000 11012 Haller St.$151,000 11865 Haller St.$163,000 8949 Harrison St.$179,000 29031 Hathaway St.$170,000 14764 Hix St.$192,000 32975 Indiana St.$195,000 29331 Jacquelyn Dr.$209,000 36141 Jamison St.$212,000 30448 Jeannie $222,000 33306 Kentucky St.$168,000 36547 Ladywood St.$289,000 9036 Louise St.$160,000 17371 Manor $340,000 18924 Mayfield St.$245,000 9114 Melrose St.$182,000 14202 Merriman Rd.$195,000 29435 Munger St.$220,000 18768 Myron St.$185,000 32812 Oakley St.$176,000 14193 Park St.$187,000 14596 Park St.$194,000 27719 Perth St.$192,000 29149 Perth St.$184,000 16232 Riverside St.$230,000 33122 Scone St.$218,000 28544 Sunnydale St.$229,000 31111 Wentworth St.$285,000 Melvindale 2388 Bloomfield St.$70,000 2310 Corbin St.$85,000 19512 Stanley St.$115,000 17450 Wall St.$118,000 19041 Wall St.$65,000 New Boston 23595 Crescent Ridge Dr.$248,000 37820 Mahagony Dr.$125,000 22727 Merriman Rd.$225,000 28623 Mineral Springs Rd.$171,000 23351 W Creek Dr.$257,000 Plymouth 50436 Beechwood Ct.$221,000 11001 Brooks Ln. $606,000 300 E Ann Arbor Trl.$159,000 40535 Micol Dr.$215,000 651 N Evergreen St.$235,000 40576 Orangelawn Ave. $186,000 44624 Oregon Trl.$214,000 10699 Pinehurst Rd.$360,000 343 Red Ryder Dr.$230,000 11087 Terry St.$172,000 12415 Woodgate Dr.$197,000 45232 Woodleigh Ct.$405,000 River Rouge 10237 W Jefferson Ave. $200,000 Riverview 17139 Brinson St.$138,000 17156 Brinson St.$134,000 17796 Clark St.$72,000 17667 Mulberry St.$95,000 Romulus 15331 Colbert St.$112,000 32376 Gateway Dr.$158,000 32384 Gateway Dr.$161,000 16505 S Huron River Dr.$158,000 6088 Swan Lake Dr.$210,000 6123 Swan Lake Dr.$212,000 35251 Wick Rd.$155,000 Southgate 14063 Allen Rd.$125,000 14615 Balsam St.$110,000 15254 Brest St.$190,000 13626 Callender St.$125,000 13625 Karl St.$68,000 15405 Oakleigh $253,000 12822 Plum St.$112,000 13076 Poplar St.$158,000 12764 Pullman St.$139,000 16435 Silverado Dr.$269,000 13368 Ward St.$149,000 15730 Windemere St.$158,000 Taylor 6677 Bailey St.$154,000 6752 Beech Daly Rd.$94,000 6466 Burr St.$66,000 25039 Chestnut St.$163,000 14048 Fellrath St.$65,000 22718 Goddard Rd.$2,012,000 22742 Goddard Rd.$187,000 22340 Haig St.$146,000 11290 Lincoln St.$138,000 9867 McKinley St.$151,000 7178 Pardee Rd.$110,000 25074 Riema St.$178,000 25076 Riema St.$169,000 22909 Van Born Rd.$185,000 22770 W Keyes St.$159,000 Trenton 1599 Boxford St.$240,000 5562 Elmhurst Dr.$177,000 2160 Fort St.$71,000 1575 Harbor Blvd. $108,000 3298 John R St.$140,000 4745 Leisure Ln. $94,000 1815 Pinetree Dr.$171,000 5869 Rolling Ridge Dr.$281,000 2846 Saint Paul St.$142,000 2615 W Jefferson Ave. $175,000 Van Buren Township 9503 Andover Dr.$210,000 43800 Arborview Ln. $295,000 13412 Barnwell Dr.$50,000 11038 Buchanan St.$134,000 13263 Lake Point Blvd. $141,000 41973 Milton Dr.$50,000 41166 N Woodbury Green Dr.$91,000 49238 Sonrisa St.$365,000 Wayne 34605 Elm St.$157,000 3988 Winifred St.$130,000 Westland 7540 August Ave. $175,000 613 Bedford Dr.$218,000 30936 Beechnut St.$150,000 1677 Berkshire St.$160,000 32440 Bertram Dr.$157,000 34111 Blackfoot St.$145,000 8285 Bristol St.$108,000 7358 Central St.$70,000 33007 Chapman Pl.$183,000 36531 Deerhurst $158,000 8185 Donna St.$165,000 759 Easley Dr.$141,000 850 Fairlane St.$156,000 7075 Fox Chase Ln. $280,000 32145 Genessee St.$89,000 34521 Hazelwood St.$142,000 32465 Hiveley St.$153,000 30187 Joy Rd.$113,000 33201 Joy Rd.$140,000 4936 Julius Blvd. $116,000 8315 Liberty Blvd. $181,000 32660 Lone Pine Dr.$165,000 30721 Mackenzie Dr.$132,000 2263 Minerva St.$179,000 1777 N Berry St.$228,000 5820 N Carlson St.$122,000 6180 N Newburgh Rd.$186,000 2155 N Norma St.$190,000 5818 N Walton St.$139,000 32512 Newaygo St.$60,000 1505 Portland St.$148,000 28943 Powers St.$77,000 7759 Princeton Ct.$147,000 35840 Rolf St.$129,000 33948 Sandwood Dr.$238,000 35507 Schley St.$106,000 1903 Treadwell St.$179,000 27544 Van Born Rd.$131,000 7515 Woodview St.$80,000 Woodhaven 26701 Ashton Dr.$116,000 26709 Ashton Dr.$136,000 26715 Ashton Dr.$132,000 26723 Ashton Dr.$136,000 24810 Cabot Dr.$221,000 26741 Coachlight St.$265,000 24417 Colonial Dr.$190,000 23020 Fairlane Blvd. $120,000 26654 Kirkway Dr.$133,000 26688 Kirkway Dr.$138,000 21715 Poplar St.$185,000 26595 Reaume St.$185,000 16328 Truwood St.$203,000 Wyandotte 3922 15th St.$137,000 1482 16th St.$119,000 615 9th St.$107,000 1757 Dee St.$150,000 1227 Electric St.$127,000 1811 Electric St.$130,000 680 Highland St.$98,000 1743 McKinley St.$190,000 Technorati Tags: Foreclosures Michigan Investing Money Cashflow Real Estate Investing Real Estate Investment Real Estate Posted by Mark at 09:23 PM | Permalink | Comments (0) Macomb County Real Estate Update! Here are the houses sold and closed last week in Macomb County for the week of 12/4 according to Detroit Free Press: Macomb County December 4, 2005 Center Line 8073 Central $59,000 8433 Dale $90,000 7552 Henry $135,000 7546 Sterling $120,000 Chesterfield Township 50355 Baytown $195,000 33684 Bayview Dr.$118,000 51310 Caroline Dr.$308,000 28076 Cotton Creek Cir. $178,000 28088 Cotton Creek Cir. $178,000 28164 Cotton Rd.$270,000 54721 Darby St.$182,000 29892 Donna Ln. $114,000 53302 Elysia Dr.$285,000 47541 Forton St.$155,000 36108 Front St.$70,000 51666 Hale Ln. $145,000 32044 Hiddenbrook Dr.$198,000 49065 Jefferson Ave. $190,000 34113 Jerome St.$120,000 26043 Mariners Pt $179,000 33796 Michigamme Dr.$205,000 33801 Michigamme Dr.$188,000 49638 Octavia St.$200,000 26636 Pattyn Dr.$70,000 28183 Raleigh Crescent Dr.$130,000 51489 S Adele Cir. $187,000 29938 Sugar Creek Ct.$244,000 29930 Sugar Creek Dr.$205,000 53753 Traditional Dr.$130,000 34505 W Wilma Ct.$125,000 Clinton Township 38491 Albert Blvd. $60,000 42216 Aspen Ct.$151,000 40259 Aynesley St.$225,000 37095 Brynford Dr.$104,000 39066 Charbeneau St.$109,000 37345 Charter Oaks Blvd. $114,000 36766 Chatham Ct.$194,000 38576 Cheldon St.$225,000 15443 Cornell Dr.$155,000 20836 Danbury St.$139,000 17580 Daniel Ct.$599,000 20310 Drummond Bay $270,000 38200 Fairway Ct.$91,000 38250 Fairway Ct.$77,000 38272 Fairway Ct.$65,000 35239 Garret Dr.$198,000 16543 Karen Dr.$189,000 42527 Kingsley Dr.$195,000 16225 La Dolce Vita $185,000 15496 Leighton Dr.$211,000 24407 Meadowbridge Dr.$113,000 41189 Oak Hill Dr.$171,000 21081 Oak Ridge Dr.$60,000 24401 Quad Park Ln. $82,000 15795 Revere Dr.$150,000 38433 Santa Barbara St.$258,000 42336 Toddmark Ln. $116,000 19892 Towner Dr.$187,000 17268 Tremlett Dr.$220,000 Eastpointe 21740 Brittany Ave. $103,000 23134 Brittany Ave. $88,000 17120 Collinson Ave. $134,000 24658 Cushing Ave. $74,000 23118 Firwood Ave. $115,000 24224 Greenbrier Ave. $145,000 24825 Greenbrier Ave. $135,000 25031 Grove $113,000 22126 Hayes Ave. $122,000 22465 Lambrecht Ave. $65,000 24658 Lexington Ave. $129,000 16457 Manchester Ave. $152,000 21834 Nevada Ave. $74,000 23793 Rein Ave. $114,000 22416 Saxony Ave. $100,000 21739 Schroeder Ave. $118,000 15648 Sprenger Ave. $134,000 17254 Stephens Dr.$104,000 15601 Stricker Ave. $155,000 24881 Teppert Ave. $180,000 22808 Tuscany Ave. $79,000 15653 Veronica Ave. $125,000 Fraser 18332 Dogwood $170,000 33221 Duncan $169,000 31565 Fraser Dr.$60,000 33349 Janet $170,000 15403 Lincolnshire Ln. $217,000 16312 Orchard Ln. $150,000 33439 Otto Ave. $150,000 17851 Winsome $153,000 Harrison Township 39434 Chart St.$225,000 39220 E Archer Dr.$260,000 41265 Gloca Mora St.$360,000 29320 Grandview St.$333,000 38351 Hazel St.$195,000 34646 Jefferson Ave. $600,000 24628 Meadow Crk. $111,000 29579 Riverside Bay Ct.$465,000 29508 S River Rd.$155,000 29031 Thistle Ln. $140,000 36544 Union Lake Rd.$59,000 Macomb Township 22671 Amber River Dr.$231,000 47310 American Way $264,000 22161 Beech Knoll Dr.$333,000 56110 Birkdale Dr.$290,000 18892 Brighton Dr.$85,000 18910 Brighton Dr.$121,000 45976 Brookside N $198,000 18464 Cider Mill St.$214,000 18250 Country Club Dr.$72,000 18362 Country Club Dr.$250,000 18596 Country Club Dr.$252,000 46009 Donahue Ave. $198,000 51762 Eva Dr.$259,000 53355 Fairchild Rd.$664,000 53375 Fairchild Rd.$153,000 21309 Fairfield Dr.$247,000 48353 Farah Dr.$254,000 51745 Flyer Dr.$320,000 19606 Gallahad Dr.$256,000 49509 Galway Dr.$125,000 49665 Golden Gate Dr.$125,000 16223 Howard Dr.$340,000 48631 Hunter Dr.$269,000 47057 Hunters Chase Dr.$196,000 17995 Huron Dr.$303,000 56505 Indian Trl.$150,000 49392 Kilkenny Dr.$120,000 50272 Knoll Ct.$188,000 46094 Lookout Dr.$73,000 48571 Lorenzo Dr.$295,000 46787 Peach Grove Ave. $193,000 18805 Pine Ln. $290,000 21535 Raintree Dr.$125,000 22067 Saskatoon Ct.$426,000 20910 Sleepy Hollow Dr.$195,000 46467 Swirling Leaves Ln. $269,000 17174 Tower Dr.$282,000 52586 Wildwood Dr.$274,000 21879 Wilshire Cir. $231,000 20672 Windham Dr.$324,000 47234 Woodberry Estates Dr.$385,000 Mount Clemens 107 Avery St.$104,000 58 Gallup St.$150,000 147 Gallup St.$85,000 1689 Hampton Rd.$135,000 96 Hubbard St.$155,000 225 N Walnut St.$112,000 151 Robertson St.$174,000 New Baltimore 53420 Andrew Cir. $226,000 51580 Ashley St.$146,000 51530 Base St.$154,000 53527 Bradford Ct.$244,000 52104 Elizabeth Ln. $166,000 52118 Fox Pointe Dr.$50,000 28307 Gold Rd.$241,000 52261 Rivard Rd.$214,000 New Haven 57163 Decora Park Ct.$214,000 32789 Dominion St.$234,000 32173 E Cranston St.$168,000 57406 River Oaks Dr.$257,000 57646 River Oaks Dr.$208,000 57487 Wingham St.$187,000 Ray Township 24441 31 Mile Rd.$294,000 Richmond 36370 Gierk St.$168,000 77212 Omo Rd.$240,000 34923 Partridge Xing. $170,000 36400 Pound Rd.$245,000 Roseville 26772 Collingwood St.$123,000 17851 Eastland St.$95,000 20489 Fenton St.$130,000 28301 Floral St.$160,000 25270 Ford St.$125,000 30555 Hidden Pines Ln. $114,000 30772 J Carls St.$134,000 17283 Lowell St.$105,000 18730 Meier St.$57,000 30709 Normal St.$115,000 26828 Oakland St.$140,000 17926 Phyllis St.$82,000 26796 Waldorf St.$97,000 Saint Clair Shores 19900 Alger St.$140,000 21929 Alger St.$115,000 21725 Bayside St.$100,000 28706 Beste St.$149,000 1029 Country Club Dr.$119,000 3318 Country Club Dr.$108,000 202 Doremus Ln. $161,000 19729 E 8 Mile Rd.$71,000 27907 Elba St.$88,000 22636 Euclid St.$165,000 22990 Gary Ln. $112,000 20205 Gaukler St.$149,000 22231 Gordon Rd.$120,000 27801 Grant St.$150,000 25530 Harmon St.$140,000 32560 Harper Ave. $74,000 33310 Harper Ave. $53,000 22967 Lee Ct.$114,000 26221 Little Mack Ave. $196,000 21721 Mauer St.$145,000 22524 Milner St.$158,000 21714 O'Connor St.$180,000 23106 Recreation St.$160,000 22517 Rosedale St.$160,000 28300 Ruehle St.$185,000 21704 Stephens St.$145,000 21631 Sunnydale St.$64,000 21924 Trombly St.$115,000 22116 Trombly St.$110,000 28609 Ursuline St.$142,000 21313 Yale St.$139,000 Shelby Township 11685 21 Mile Rd.$127,000 7727 Ambassador Dr.$185,000 7735 Ambassador Dr.$206,000 7787 Ambassador Dr.$211,000 14040 Berryknoll Dr.$355,000 54272 Cambridge Dr.$305,000 56194 Chesapeake Trl.$155,000 53214 Dryden St.$193,000 55436 Hearthside Dr.$55,000 49380 Heyward $294,000 11885 Hiawatha Dr.$415,000 49012 Hickory Ct.$134,000 13601 Jack Pine Ln. $314,000 48412 Lance Creek Ct.$187,000 53822 Lynnham Ln. $191,000 55628 Monroe Dr.$355,000 6890 N Central Park $278,000 2233 Nickelby Dr.$558,000 13436 Partridge Run $750,000 53792 Pine Creek Ct.$358,000 7575 Powers Ct.$158,000 12837 Red Pine Ln. $365,000 2633 Ridgecrest Dr.$50,000 4668 Royal Cove Dr.$184,000 51863 Schoenherr Rd.$553,000 56445 Shorebrook Ct.$438,000 13739 Silver Birch Cir. $179,000 54230 Sunderland Dr.$273,000 8707 Timberline Dr.$177,000 12317 Watkins Dr.$314,000 53269 Williams Way $345,000 54549 Woodcreek Blvd. $148,000 Sterling Heights 34499 Amsterdam Dr.$165,000 39422 Augusta Ave. $345,000 1940 Avalon Dr.$254,000 12876 Beechnut Dr.$299,000 3000 Belcher Dr.$206,000 39358 Bella Vista Dr.$221,000 14088 Bery Dr.$139,000 36410 Briarcliff Rd.$185,000 36167 Carriage Dr.$214,000 35262 Cavant Dr.$216,000 34119 Chatsworth Dr.$187,000 4829 Corriander Dr.$290,000 12328 De Grove Dr.$185,000 12730 Denoter Dr.$161,000 36102 Dominion Cir. $185,000 11614 Fairview Dr.$170,000 39048 Faith Dr.$190,000 39552 Forbes Dr.$231,000 42937 Fortner Dr.$163,000 3336 Galaxy Blvd. $342,000 3432 Galaxy Blvd. $265,000 3323 Gemini Dr.$275,000 3339 Gemini Dr.$313,000 3355 Gemini Dr.$311,000 34501 Giannetti Dr.$395,000 3077 Gloucester Dr.$228,000 38717 Harrison Dr.$204,000 38124 Jamestown Dr.$118,000 14348 Kerner Dr.$235,000 39644 Kingsbury Dr.$167,000 2258 Kipling Dr.$198,000 4167 Lindow Dr.$163,000 44625 Marigold Dr.$152,000 37310 Marion Dr.$210,000 41392 Marksway Ct.$450,000 35533 Maureen Dr.$192,000 35500 Moravian Dr.$236,000 14238 Moravian Manor Cir. $150,000 35565 Nona Ct.$193,000 5722 Ortman Dr.$249,000 5216 Peekskill Dr.$206,000 5228 Peekskill Dr.$118,000 38838 Pinebrook Dr.$195,000 38232 Plumhollow Dr.$240,000 11865 Quaker Ct.$200,000 8763 Radner Dr.$173,000 35326 Remington Dr.$195,000 36431 Samoa Dr.$186,000 38107 Schoenherr Rd.$154,000 8920 Shawn Dr.$110,000 44514 Sterritt St.$145,000 3061 Sylvan Dr.$220,000 35215 Taffy Dr.$100,000 41026 Tarragon Dr.$287,000 42040 Tessmer Dr.$262,000 3517 Tracy Dr.$196,000 41579 Vancouver Dr.$340,000 39071 Vassar Ave. $350,000 13547 Viola Dr.$194,000 Utica 45538 Hidden View Ct.$161,000 45544 Hidden View Ct.$176,000 Warren 2630 Antonia Ln. $152,000 3466 Arden Dr.$175,000 22323 Audrey Ave. $120,000 25868 Audrey Ave. $118,000 30148 Autumn Ln. $179,000 11920 Avondale Ave. $126,000 14712 Bade Dr.$199,000 31542 Beechwood Dr.$169,000 13715 Beth Dr.$149,000 3423 Bicsak Dr.$164,000 24738 Chalk Farm Rd.W $99,000 3520 Chase Dr.$164,000 29888 City Center Dr.$88,000 13695 Couwlier Ave. $92,000 3280 Dallas Ave. $163,000 11139 Edgemont Ave. $113,000 29531 Fairfield Dr.$173,000 7071 Fisher Ave. $69,000 4250 Garbor Dr.$178,000 21083 Gentner St.$133,000 12768 Georgiana Ave. $90,000 27723 Gilbert Dr.$134,000 31343 Gilbert Dr.$157,000 4056 Heatherwood Ct.$123,000 13958 Hobart Ave. $82,000 29590 Hoover Rd.$85,000 11300 Hudson Ave. $73,000 14250 Ivanhoe Dr.$185,000 8641 Jewett Ave. $90,000 22016 Mac Arthur Blvd. $77,000 11413 Maxwell Ave. $82,000 2709 Mcalpine Dr.$177,000 13738 McKinley Ave. $155,000 22852 Nagel St.$117,000 32835 Oakview Dr.$163,000 2351 Princess Ct.$103,000 8062 Racine Rd.$170,000 25255 Rayburn Dr.$152,000 29780 Red Oak Dr.$149,000 8420 Republic Ave. $77,000 27782 Roan Dr.$135,000 30132 Rosenbusch Dr.$190,000 20905 Sunset Ave. $97,000 21209 Sunset Ave. $108,000 30961 Sutherland Ave. $153,000 30139 Tecla Dr.$159,000 27855 Thomas Ave. $170,000 27189 Townsend Ave. $105,000 30017 Warner Ave. $175,000 8128 Westminster Ave. $86,000 3334 Winterfield Dr.$177,000 24569 Woodbridge Rd.$86,000 Washington Township 60191 Cottage Mill Dr.$420,000 63500 Georgetowne S $532,000 59744 Glacier Club Dr.$100,000 61500 Jewell Rd.$285,000 58291 Pleasant View Ct.$310,000 67588 Rachael Ln. $129,000 57584 Stonebriar Dr.$125,000 63188 W Charleston Dr.$242,000 Technorati Tags: Foreclosures Michigan Investing Money Cashflow Real Estate Investing Real Estate Investment Real Estate Posted by Mark at 04:21 PM | Permalink | Comments (0) December 04, 2005 Can I say Merry Christmas without upsetting you? Scott Sikorski forwarded me this - and I agree wholeheartedly. As an immigrant myself who taught himself English in his teens by reading English books (belive me it was hard!) and watching American Black and White movies late at night and worked very hard to adapt to this great country when I finally came here - I dont know why so many other immigrants have decided to keep their minds still in their native countries. Hey, if it was so good back there then why you are here? Will we still be the Country of choice and still be America if we continue to make the changes forced on us by the people from other countries that came to live in America because it is the Country of Choice?????? Think about it! All we have to say is, when will they do something about MY RIGHTS? I celebrate Christmas...........but because it isn't celebrated by everyone..............we can no longer say Merry Christmas. Now it has to be Season's Greetings. It's not Christmas vacation, it's Winter Break. Isn't it amazing how this winter break ALWAYS occurs over the Christmas holiday? We've gone so far the other way, bent over backwards to not offend anyone, that I am now being offended. But it seems that no one has a problem with that. This says it all! This is an editorial written by an American citizen, published in a Tampa newspaper. He did quite a job; didn't he? Read on, please! IMMIGRANTS, NOT AMERICANS, MUST ADAPT. I am tired of this nation worrying about whether we are offending some individual or their culture. Since! the terrorist attacks on Sept. 11, we have experienced a surge in patriotism by the majority of Americans. However...... the dust from the attacks had barely settled when the "politically correct! " crowd began complaining about the possibility that our patriotism was offending others. I am not against immigration, nor do I hold a grudge against anyone who is seeking a better life by coming to America. Our population is almost entirely made up of descendants of immigrants! . However, there are a few things that those who have recently come to our country, and apparently some born here, need to understand. This idea of America being a multicultural community has served only to dilute our sovereignty and our national identity. As Americans....... we have our own culture, our own society, our own language and our own lifestyle. This culture has been developed over centuries of struggles, trials, and victories by millions of men and women who have sought freedom. We speak ENGLISH , not Spanish, Portuguese, Arabic, Chinese, Japanese, Russian, or any other language. Therefore, if you wish to become part of our society, learn the language! "In God We Trust" is our national motto. This is not some Christian, right wing, political slogan.. We adopted this motto because Christian men and women.......on Christian principles............. founded this nation..... and this is clearly documented. It ! is certainly appropriate to display it on the walls of our schools. If God offends you, then I suggest you consider another part of the world as your new home.........because God is part of our culture. If Stars and Stripes offend you, or you don't like Uncle Sam, then you should seriously consider a move to another part of this planet. We are happy with our culture and have no desire to change, and we really don't care how you did things where you came from. This is OUR COUNTRY, our land, and our lifestyle. Our First Amendment gives every citizen the right to express his opinion and we will allow you every opportunity to do so! But once you are done complaining....... whining...... and griping....... about our flag....... our pledge...... our national motto..... ...or our way of life....I highly encourage you to take advantage of one other Great American Freedom....... THE RIGHT TO LEAVE. Posted by Mark at 09:59 AM | Permalink | Comments (0) Free Audio CD Why some Michigan Real Estate Investors always seem to get Killer Foreclosure Deals? The answer may surprise you..... Get Your Free CD on Michigan Foreclousres How To Invest In Michigan Real Estate The smart beginners course to step by step build your Michigan real estate investment business. More about Michigan Real Estate Investing here... Michigan QuickStart 2006 Bootcamp The Insider Secrets To Find, Fix and Flip Michigan Bank Foreclosures, In Troy, Michigan, January 21/22, 2006 - More details on what previous students have called "The Best Bootcamp For Michigan Foreclosure Investors".... My Michigan Coaching Program One-On-One coaching program for Michigan real estate investors Download Coaching Application Subscribe to My blog's feed RSS Atom RSS 2.0 RSS 1.0 [ What is this? ] This weblog is licensed under a Creative Commons License . Powered by Movable Type 3.2

real estate broker, you

California Department of Real Estate: Using the Services of a MortgageBroker Using the Services of aMortgage Broker (Revised by DRE January2002) Introduction A home loan is a transaction inwhich you promise to repay money you have borrowed and also give the lender amortgage on your home to secure repayment. In California, your promise to repayordinarily is in the form of a promissory note and the mortgage is ordinarily inthe form of a deed of trust. You need to make certain that you understand theterms of the loan before you become obligated. Whether you obtain a loan througha mortgage broker, a financial institution or some other lender, you should askquestions about the loan process and paperwork so that you understand the formof the transaction and the terms of the loan before you agree to them. The purpose of this brochure isto provide basic information about using the services of a mortgage broker whichmay assist you in making an informed decision when seeking a home loan. Using the Services of aMortgage Broker A mortgage broker helps youobtain a home loan. A mortgage broker may be licensed by either the CaliforniaDepartment of Corporations or the California Department of Real Estate. Mortgagebrokers make or arrange first mortgages and junior mortgages. A junior mortgagesecures a loan which is secondary or junior to one or more other loans on theproperty. Some home loans arranged through brokers are very similar to a homeloan you might obtain independently from a bank, savings and loan association(S&L), credit union, finance company, or other type of lender. Some brokersoffer shorter loan terms and/or different repayment plans. Prior to using the services ofa mortgage broker ensure that you check to make sure they are properly licensedby checking with the California Department of Corporations at http://www.corp.ca.gov or 1-800-347-6995 and/or the California Departmentof Real Estate at http://www.dre.ca.gov or (916) 227-0931. You may also wish to check with the Better BusinessBureau at http://www.bbb.org to see if the company is a member and if any complaints have been filed againstthe company. The Role of the Mortgage Broker The mortgage broker is usuallyan agent for the purpose of arranging the home loan transaction. Thisrelationship imposes a legal duty on the broker to disclose to you the material(important) facts you need to know about the loan. The broker has a duty offairness and honesty to both you and the lender. These legal duties can beimportant in resolving disputes which arise after the loan is made, but the bestway to avoid problems and disputes is to ask questions and be sure youunderstand the terms of the loan and each of the loan documents before you sign. When acting as an agent, thebroker speaks for you in submitting your loan application to a lender. Make surethat you give the broker full and accurate information, and that any loanapplication or other document the broker prepares for your signature is accurateand complete before you sign it. Make sure you understand the terms of the loanbefore you agree to it. Mortgage Broker Commissions andLender Fees Mortgage broker commissions andlender fees are not usually set by law. Mortgage Brokers are paid eitherdirectly by you or by the lender who funds the loan. You may choose to pay themortgage brokers commission with: Cash (out of pocket) or Proceeds from the loan (this will increase your loan balance) or A lenders rebate or service release premium (see definition of lenders rebate and service release premium below). Compare fees charged by severallenders and mortgage brokers. You may be able to do this with a few phone calls.Ask about the amount of the fees and costs to be paid by you in cash before theloan is funded, the amount of the fees and costs to be paid from the loanproceeds or lender rebates, and the amount of fees and costs to be financed. Definitions Points - The term "points"customarily refers to the commission, or origination fee, charged by themortgage broker or the loan fee charged by the lender when the loan is made.Each point is 1% of the loan amount. On a $100,000 loan, 1 point is $1,000 and10 points is a charge of $10,000. The amount of points charged is not usuallyset by law. You may wish to shop for a mortgage broker or lender who chargesfewer points. You may be able to negotiate for lower points. Asking about pointsbefore you choose a mortgage broker or lender may save you money. You should beaware, however, that a "no points" or "zero points" loan mayhave a higher interest rate than a loan for which points must be paid.Therefore, it is important to compare the points, costs and interest rates inorder to decide which loan is best for you. And remember, there is no such thingas a "no cost loan." Points can also be paid by the borrower to obtaina lower interest rate loan. These are referred to as "DiscountPoints". Rate Sheet - A term used to describe how lenderscommunicate (via computer or fax) the interest rates, terms and costs of loanproducts available to mortgage brokers. Interest rates can change several timesa day. Each lender provides its approved mortgage brokers with the current ratesheet for its loan products. Par Loan - The interest rate at which theborrower pays no discount points and the lender pays no rebate to the broker fordelivering the loan to the lender. Yield Spread Premium (also know as a lender rebate) Therate at which a mortgage broker is compensated for the difference between theinterest rate on a par loan and the interest rate on an above par loan, which abroker can deliver to the lender. This is expressed in the number of points paidto a broker. A broker receives payment of the premium, the lender obtains ahigher than par loan, and the borrower pays for the premium over the entire lifeof the loan. For example, if the interest rate on a par loan is 7% and themortgage broker can deliver a 7.5% loan to the lender, the lender may beoffering to pay the mortgage broker a rebate of 2 points or 2% of the loanvalue. For a $100,000 loan, the broker would be paid a $2,000 Yield SpreadPremium by the lender and the borrower would have to pay a higher interest rateover the life of the loan. Always ask your broker if rebate pricing is involvedon your loan; a broker must disclose any rebate they are to receive inconnection with your loan to you. Service Release Premium This is another form of compensationthat a lender may pay to a broker for delivering a loan. Each loan comes with"servicing rights", which are the rights to collect the mortgagepayments. Servicing rights can be sold independently of the actual mortgage.Some lenders pay mortgage brokers a "Service Release Premium",expressed as points, when the mortgage broker delivers the lender a loan. Alwaysask your broker if a Service Release Premium is involved on your loan, a broker must disclose any Service Release Premium they are to receive in connection with yourloan to you. Loan Pre-Approval Mortgage Brokers will obtainpre-approval for a loan based on preliminary information supplied by theborrowers. THIS IS NOT A LOAN APPROVAL . Loan Approval only takes placeafter all required information has been reviewed and approved by the lendersunderwriter. Loan approvals may also contain conditions that the borrower mustmeet prior to funding of the loan. Loan Lock A request for the interest rate onyour loan can either be locked or floating. If you choose to obtain a loan lockthe mortgage broker will "lock-in" the agreed upon interest rate atthe time you request the lock. This lock is for a given period of time. Alwaysask your broker for the length of the lock and if there is any lender charge forlocking the interest rate of your loan. Always ask for a written lock-inagreement, signed by the mortgage broker, detailing the exact terms of thelock-in. You may choose to float theinterest rate on your loan. This means that the loans interest rate will beset at the prevailing interest rate for your loan program on the day of closing. Remember interest rates canchange daily and sometimes more than once in a day. You need to talk with yourbroker to determine the best course of action for you. Annual Percentage Rate (APR) - The annual percentage rate (APR) ofinterest includes both the simple interest rate and certain fees, commissions,costs, and expenses. By contrast, the simple interest rate, or note rate, doesnot include these costs and fees. If a broker or lender quotes an interest rateto you, be sure to ask if that rate is the simple rate or the APR. Use the APRto compare loans which have different simple interest rates, points and otherloan charges. The loan with the higher APR may cost you more over the term ofthe loan. What Other Fees Should I AskAbout? The mortgage broker may chargeyou loan application processing fees. You may incur appraisal and credit inquiryexpenses. However, if the mortgage broker asks for payment in advance forany service other than an appraisal or credit inquiry, call the DRE to see ifthe broker has approval to do so. Closing costs may include charges for documentpreparation, escrow services, title insurance, notary services, and recordingfees. You may also be charged for fire or homeowners insurance coverage,optional credit life or disability insurance, or beneficiary statements. You do not have to buy creditlife or disability insurance. Credit life and disability insurance benefits makeyour mortgage payments if you die or become disabled. Many credit life anddisability policies have limitations, called exclusions, that excuse the insurerfrom paying under a variety of circumstances. Make certain you understand theterms of the policy and what it excludes. You can also secure financialprotection from disability or death through standard term life insurance ordisability insurance. Before you buy credit life or disability insurance,compare the cost with the cost of a term life or disability policy. Do My Costs Increase if IBorrow More Money? Many loan costs and fees arebased on the amount of the loan. Usually, the more you borrow, the higher thecosts and fees. Also, your costs and fees are limited by law on first mortgagesunder $30,000 and junior mortgages under $20,000 which are arranged through abroker, licensed by the Department of Real Estate. An Overview Of The Loan Process Selecting a mortgage broker orlender As statedearlier, brokers usually act as your agent with the lender. You can also dealdirectly with some lenders, without using a mortgage broker. Whichever youchoose, ensure that you have checked out the company. Try to use companies thatpeople you know have used and can tell you the level of service provided. Ratesshould be competitive with other companies. Remember that if the deal sounds togood to be true, it probably is. The Loan Application You will have to provide acompleted loan application. Some brokers will come out to your home to take theapplication, you can fill one out yourself, or some brokers have Web sites thatallow you to submit the application on-line. You will probably be asked to payfor a credit report and appraisal fee up front. If a broker tells you the creditreport and appraisal costs are not being charged to you, make sure to get it inwriting. Also verify that you will not pay for these items at the close ofescrow out of your loan proceeds or that the broker will not demand payment forthe fees, if you do not close the loan. The broker will also require that yousubmit the required documents that the lender requires in relationship to theloan program you are trying to obtain. Both the broker and lender will provideyou with required disclosures regarding the terms of the loan. It is importantthat you review these disclosures and ensure that the terms meet with yourapproval. Processing the Loan This is the process were the brokerobtains the required information and submits it to the lenders underwriterfor loan approval. This is a critical stage in obtaining your loan. Ensure thatyou respond to all requests for information in a timely manner. This willincrease your chances of getting the loan or learning why you dont qualify.This is also the time you may want to lock in an interest rate. Remember to keepin contact with the broker and to monitor the loan process, ensuring that thebroker is meeting the agreed upon time frames. Closing the Loan This is the final stage of the loanprocess. The closing can take place at a title company, escrow company, or thebrokers office. The broker may use a signing service that will bring thedocuments to you for signing. No matter where the signing takes place, this isthe time to ensure the loan terms and costs are what you asked for. Read alldocuments. Do not let yourself be rushed. If you have questions, ask them andmake sure you understand the answers. If the terms and conditions are not whatwas agreed upon, do not sign the loan documents. Request that the documents beredrawn stating the correct terms. Debt Consolidation: BorrowingMoney on My Home to Pay My Bills Be careful about using a homeloan to consolidate debts into a single monthly payment. A home loan isdifferent from other consumer debts. If you cant pay most consumer debts, youmight receive a bad credit rating, be sued, or even be forced into bankruptcy.But if you cant pay your home loan, you could lose your home. Many consumer debts such asbills for credit cards or medical services are unsecured. Other consumer debtslike car payments or furniture payments may be secured by an interest in thegoods but not by an interest in your home. If you cant repay consumer debts,the creditor may be able to take back the goods and sue you for the amount ofthe debt not repaid by the resale of the goods. But on a consumer debt, thecreditor cannot simply foreclose on your home. If you pay off consumer debtslike car, medical or credit card bills with a home loan, the new debt is securedby your home. This creates the risk that you could lose your home if you cantmake the payments. CONSUMER CHECKLIST Questions to Ask About Debt Consolidation Are your debts unsecured (such as medical bills and credit card bills) or secured only by an interest in personal property (such as a car or furniture payments)? Can you work out a payment schedule with your creditors to repay existing debts? How will you pay off a new home loan if you cant pay your current bills? Paying Off a Balloon PaymentLoan A balloon payment loan is notfully paid off through the monthly payments. A loan without a balloon payment isrepaid a little bit each month. With these loans, each months payment appliesto both interest and principal. They are called fully amortized loans becauseyou pay off (amortize) the loan with your monthly payments. By contrast, aninterest-only loan or a partially amortizing loan will include one or moreballoon payments: i.e., payments that are twice or more the size of the regularpayment. Partially amortizing andinterest-only loans have lower monthly payments than fully amortizing loans forthe same amount. In an interest-only loan, the monthly payments do not pay anyof the loan principal. The payments cover only interest. The unpaid principalmust be paid by one or more balloon payments. For example, if you obtain a$15,000 interest-only loan at 15% interest for 5 years, you must make monthlyinterest payments of $187.50. At the end of the 5 year term, however, you wouldstill owe the entire $15,000 principal and it would be due in one balloonpayment. (If you had made payments of $356.85 instead, the loan would have beenamortized/paid off by the end of the 5 year loan term. If your loan was for 10years, monthly payments of $242 per month would fully amortize it.) A balloonpayment results when your monthly payments pay only interest (a non-amortizingloan) or when they pay only part of your loan principal (a partially amortizingloan). An example of each could looklike this: $15,000 Loan 15% 5 Yrs Monthly Payment Balloon (Due After 5 Yrs) Fully Amortized $356.85 0 Partially Amortized $280.00 $7,000.00 Interest Only $187.50 $15,000.00 With interest-only andpartially amortizing loans, if you do not have the financial means to repay thebalance of the loan principal as a balloon payment at the end of the loan term,your choices could include: selling your home to make the balloon payment; taking out another loan typically incurring more fees and costs to pay off the balloon payment; or losing your home to foreclosure if you fail to make the balloon payment. If you refinance the loan topay the balloon payment, you typically must pay new loan fees and closing costs.This could increase your debt. If the debt becomes too large in comparison withthe amount of equity in your home, you may not be able to further refinance.Then, if you are not able to satisfy the debt, you could lose your home inforeclosure or be forced to sell it to pay off the loan. Refinancing My Existing FullyAmortizing Mortgage Sometimes borrowers replace anexisting mortgage with a new, larger first mortgage. Some things to consider indeciding whether to refinance an existing mortgage are: refinancing may replace a fully amortizing loan with a loan requiring a balloon payment. refinancing may shorten the amount of time you have to repay by replacing a long term loan with a short term loan. a new junior mortgage in a smaller amount may cost less, in points and fees, than refinancing the existing first mortgage. CONSUMER CHECKLIST Interest-Only and Partially Amortizing Loans How much will you owe (balloon payment) after you make all the monthly payments? How much would the monthly payments be to fully amortize the loan and avoid any balloon payment? Could you afford the monthly payments on a fully amortizing loan if you borrowed less money or obtained a longer loan term? Where will you obtain the money to make the balloon payment? Remember that you risk losing your home if you cant pay the balloon payment. How Do I Decide About theLength of Loan Term? The term of the loan is thenumber of years you have to repay it. First mortgages usually have terms of 15,30, or even 40 years. Junior mortgages typically have terms of 1, 3, 5, orperhaps 10 or more years. With a fully amortized loan, the longer the loan term,the lower your monthly payments. With an interest-only or partially amortizingloan, a longer loan term means you have more time before you have to pay theballoon payment. In any event, the longer the loan term the more total interestyou will pay, assuming you do not prepay the principal of the loan. How Do I Choose a MortgageBroker and a Loan? Call lenders and mortgagebrokers and ask about interest rates and fees for the size loan you need. Besure to ask: What types of loans are available? What is the approximate amount you will have to borrow to receive the amount of cash you want? (That is, what amount of fees will be financed and deducted from your loan proceeds?) Does the lender or mortgage broker offer loans in the dollar amount you need? How much is the lenders fee or brokers commission on this size loan? What other fees or costs will you be charged and what is the estimated amount of each? Will you have to pay any fees if the loan is denied? Will you have to pay any fees if you apply, but then change your mind? What is the amount of the monthly payments, and the amount of any balloon payment? Will the loan be fully amortized/paid off by the regular monthly payments? What is the length of the repayment period/term of the loan? (The more time you have to repay, the lower your payments will be on a fully amortizing loan.) What is the simple interest rate? Is the interest rate fixed or does it vary over the term of the loan? What is the Annual Percentage Rate? On an adjustable rate mortgage(ARM), the interest rate and your monthly payment may increase with anincrease in the index used in your mortgage. In an ARM, the current interestrate is calculated by adding a fixed margin (such as 2%) to an index such as theCost of Funds Index published by the Federal Home Loan Bank Board. INDEX RATE +MARGIN = MORTGAGE RATE. For adjustable rate loans, askthe lender or broker: How long is the initial interest rate guaranteed? How often can the interest rate change? What is the largest monthly payment you could face? How often can the payments change? Can the amount you owe increase through negative amortization? (This can happen if your monthly payment is less than monthly interest costs.) What is the formula that will be used to set the rate? What would the rate be today if it were set by that formula? What are the caps on how high/low the interest rate can go? Is there a cap on how high or low a payment can be adjusted when the interest rate adjusts? A good way to determine howmuch the fees and costs will be on a loan is to ask each lender or broker twoquestions: 1) "Approximately how much do I have to pay in cash before theloan is funded?" and 2) "What is the approximate amount of money Iwill have to borrow to end up with a certain amount of cash?" By comparingthe answers you can find out how much you would have to borrow from each sourceto end up with the same amount of cash paid to you. What Do I Need to Know Aboutthe Loan Application? You will usually be asked tofill out a loan application describing your income, assets, debts and expenses,and the real property which is to secure the loan. Before you sign theapplication, make sure that it truthfully states your income, assets, debts andexpenses. Never sign a blank application. Do not stretch the truth on your loanapplication. Dont exaggerate your income or understate your debts. The lenderis entitled to know your true financial condition. You may be asked to providedocuments to the mortgage broker to verify your employment and bank accounts.The sooner you comply with these requests, the sooner your loan application canbe processed. Consumer Checklist: The LoanApplication Accurately report your income, assets and debts. Never sign a blank application. Ask for a copy of your signed application. To avoid delays, promptly provide the information requested by the mortgage broker. Ask approximately how long it will take to process the application and obtain the loan you are requesting. Using the Mortgage LoanDisclosure Statement In most cases, a mortgagebroker must cause to be delivered to you a Mortgage Loan Disclosure Statement(MLDS) within 3 business days after you complete and present to the mortgagebroker a written loan application or before you become obligated to take theloan, whichever is earlier. Ask to receive the statement as soon as possible andread it carefully. It will provide you with the following information about theloan: the amount you are borrowing (the principal); the estimated amount of any costs which are to be financed as part of the principal; the estimated amount you will pay in fees to get the loan, including commissions to the mortgage broker; and the estimated amount of money that you will receive from the loan after costs, fees, and commissions have been deducted. Compare the line on thestatement showing the amount of the principal with the line stating the amountof cash which will be paid to you. The difference between these two numbers isthe amount of fees and costs which will be financed as part of your loan debt. The statement must also includeestimates of the maximum costs of arranging the loan. It must list the estimatedamount of each of these fees, if they apply: appraisal fee lender fees escrow fee title insurance charge notary fee recording fee credit investigation fee fire or other hazard insurance premiums credit life or disability insurance premium beneficiary statement fees reconveyance fee (when you are refinancing an existing loan) The disclosure statement shouldalso list any existing loans or liens against the property. If you expect thenew loan to pay off a debt, check to be sure that debt is listed. Be sure to ask for thisdisclosure statement before you sign the loan papers. You do not becomeobligated to accept the loan until you sign the loan agreement or promissorynote. If the disclosure statement does not describe the terms that you expect orwant, dont sign the loan papers. Any changes from the original terms, cost,or expenses, must be disclosed to you in a timely manner. If the loan transaction isfederally related, you may not receive an MLDS but you should receive a GoodFaith Estimate conformed to California disclosures and certain Truth-in-Lendingdisclosures. These are federal disclosures which together generally provide thesame information as the MLDS. (See discussions below regarding RESPA and theTruth-in-Lending Act.) If the broker does not provide the MLDS, he/she mustseparately advise you of any compensation received or expected from the lenderand whether the loan includes a balloon payment. Get It In Writing Do not be afraid to ask themortgage broker or lender to show you where the loan papers describe anyparticular features of the loan which have been promised to you. If the termsyou have been promised are not there, ask the mortgage broker or lender to putthem in writing. Promises made only orally may not be enforceable. Real Estate SettlementProcedures Act (RESPA) The Real Estate SettlementProcedures Act (RESPA) is a federal law administered by the U.S. Department ofHousing and Urban Development (HUD). RESPA only applies to federally relatedloans and requires, among other things, that mortgage brokers providedetailed information on settlement costs so that buyers and borrowers can shoparound for settlement services. Mortgage brokers and lenders must provide a goodfaith estimate of costs the borrower is likely to incur at close of escrow. Thebroker must present this estimate not later than 3 business days after receiptof a written loan application. The estimate will contain information similar tothe Mortgage Loan Disclosure Statement required by California law. In somecases, a broker may use one disclosure form to comply with both the state andfederal requirements. Your Rights Under the FederalTruth-in-Lending Act The Federal Truth-in-LendingAct (TILA) applies if the broker makes the loan with its own funds or arrangesthe loan for a lender who makes five or more home loans per year. If the TILAapplies, the lender must provide you a disclosure before you become obligatedwhich tells you: the identity of the creditor; the amount financed; that youhave a right to an itemization of the amount financed; the dollar amount of thefinance charge; the finance charge expressed as an annual percentage rate (APR);the number, amount and periods of payments; the total of all payments; any latepayment charge; and whether or not there is a charge upon prepayment of the loanprincipal. The disclosure statement mustalso identify the property which is to secure the loan and should tell youwhether the terms of the loan permit assumption of the loan by someone buyingthe property from you. If the TILA applies, you mayhave a right to rescind (cancel) the loan within three days after certainevents, including the consummation of the loan transaction. When you do notreceive proper disclosures about the loan, the right to rescind can last as longas three years from the time you obtain the loan. Any request to rescind theloan should be made in writing. The TILA right of rescissiondoes not apply to all loans arranged by mortgage brokers, so do not rely on thepossibility of later rescission as a substitute for careful study of the loanbefore you agree to it. The TILA was amended in 1994with respect to certain loans, other than purchase money loans, secured by theborrowers principal dwelling. In these "high rate/high fee" loantransactions, also known as "Section 32" loans, the TILA now placessome additional restrictions on creditors, requires more disclosures, and givesborrowers cancellation rights. The amendment defines a creditor as someone who,in any 12-month period, originates more than one high rate/high fee loan. Also, any such loan arranged by a mortgage broker is subject to the new requirements. Ahigh rate loan is one in which the APR exceeds by 10 points or more the yield onTreasury Securities having a similar term. A high fee loan is one in which thetotal points and fees exceed the greater of 8% of the loan amount or, as of1-1-00, $451.00 (adjusted annually on January 1 based on the change in theConsumer Price Index). The TILA is enforced by the Federal Trade Commission(FTC). The FTC will answer questions concerning the TILA and high rate/high feeloans. The Loan Documents: What DoThese Papers Mean? The mortgage broker shouldexplain the loan to you, but you can also help avoid misunderstanding by readingthe documents and asking questions. Dont guess at the meaning of the loanpapers. Ask the mortgage broker to explain them. CONSUMER CHECKLIST Understanding the Loan Documents Study the loan documents and ask questions to help you understand their meaning BEFORE you sign. Ask the mortgage broker or lender to put into writing the terms agreed to. Read all the loan documents carefully before you sign. Before you sign, make certain all the loan terms agreed on are included. Obtain and keep a copy of everything you sign. Signing the Papers: What toExpect When the time comes to sign thepapers, several documents will be presented to you. They will probably include: Promissory Note In the promissory note, you promise torepay the money borrowed. The note should state the amount you are borrowing,the interest rate, whether and how that interest rate may change, the term orlength of the loan, and the amount of any balloon payment. Deed of Trust The deed of trust gives the lender alien on your home. It also gives the lender the right to foreclose on your homeif you dont repay the loan. Escrow Instructions The escrow instructions tell theescrow holder how to pay the loan funds. If existing mortgages or other debtsare to be paid off by the loan, be sure that the escrow instructions tell theescrow agent to pay off these debts. Broker Agreement Read the broker agreementcarefully. Does the agreement require you to pay the brokers fee even if youdont receive the loan you requested? Make sure the agreement is consistentwith what the broker has already told you about your rights and obligations. Declaration of Oral Disclosures This is a statement that the brokerhas orally explained certain terms of the loan to you. Before you sign a papersaying that you have received explanations, make sure that you have received theexplanations and that you understand what you have been told. Mortgage Loan DisclosureStatement Themortgage broker must give you this statement, which sets forth the loan termsand estimated costs, within 3 business days of receiving your completed writtenloan application or before you become obligated to complete the loantransaction, whichever is earlier. If liens or debts are to be paid off by theloan, be sure they are listed on the disclosure statement. (In lieu of the MLDS,in a federally related loan transaction you may only receive Truth-in-Lendingdisclosures and a Good Faith Estimate of costs conformed to Californiadisclosure laws. See "Using the Mortgage Loan Disclosure Statement"above.) Truth-in-Lending DisclosureStatement Some, butnot all, mortgage brokers must give you Federal Truth-in-Lending Act disclosuresabout the cost of the loan before you become obligated on the loan. Take your time and read eachdocument carefully. CONSUMER CHECKLIST Signing The Loan Papers Dont be rushed or intimidated. Read each document before you sign any part of it. Dont sign any documents if there are spaces or boxes concerning the terms of the loan which are left blank. Check that the promissory note lists the interest rate, length or "term" of the loan, and other terms that were promised or represented to you. Mortgage Insurance: Notice toBorrower Civil Code Section 2954.6requires that if private mortgage insurance (PMI) is a condition of a loan thelender must notify the borrower whether the borrower has the right to cancel thePMI and, if so, what conditions must be met in order to cancel. Servicing: Making Your MonthlyPayments It is very important to makeall your payments and to make them on time. Your promissory note may include aprovision requiring you to pay a late charge for each late payment. For somehome loans, the law allows a late charge of up to 10% per installment. The person who collects yourloan payments is often referred to as the authorized servicer. Sometimes this isthe mortgage broker. NOTE: Civil Code Section 2937requires that if the servicing responsibility for a loan is to be (or has been)transferred, both the current and new servicer must notify the borrower of thechange and its effective date. What Should I Do About aDispute with the Authorized Servicer? If you have a disagreement withthe authorized servicer about your loan, write a letter to the servicer and keepa copy. State what the problem is and what you wish the servicer to do about it.Be specific. If your payment wasnt credited, give the account number, amount,date, and number of the check. Do not send your original documents such ascanceled checks. Keep all the originals and send copies with your letter.Confirm in writing any telephone conversations with the servicer. If you dontreceive a satisfactory response and the servicer is required to be alicensed real estate broker, you can file a complaint with the Department ofReal Estate. Also, Section 6 of RESPA requires the servicer to acknowledge yourrequest within 20 business and must try to resolve the problem within 60business days. If not you may have certain rights, such as the right to file acivil lawsuit against the servicer. Foreclosure: What Should I DoNow? In foreclosure, a person calledthe trustee in foreclosure sells your property at a public auction sale. Commonreasons for foreclosure are failure to make monthly mortgage payments or failureto make a balloon payment when due. Foreclosure proceeds in stages.It begins with a notice of default which tells you why you are now in default.You then have until five business days before the foreclosure sale to cure thedefault. To cure the default you have to pay off missed payments, late charges,and fees for initiating the foreclosure. If you do not cure the default,the trustee can take steps to hold a foreclosure sale. You have the right to one24-hour postponement of the sale if you make a written request to postpone whichstates that your purpose is to obtain the cash to pay the debt and whichidentifies the expected source of the money. Detailed rules governforeclosure. Dont wait until a foreclosure sale is scheduled to seek legalassistance. If you receive a notice of default, act on it promptly. See if youagree with the amount the trustee says is due. If you do not believe you owe theamount claimed, write a letter as soon as possible disputing the amount, withcopies of the proof of payments. Ask for a written correction and follow up withthe authorized servicer to see that your account is corrected. If you owe the money, thinkabout how to repay it and cure the default. Are you able to borrow money fromfamily or friends? Could you repay the amount of the missed payments over aperiod of several months? The lender is not required to allow you more thanthree months to pay off the default, but a lender may give you more time if youhave a definite plan for repayment. If the lender agrees to give you more timeto repay the loan, that agreement should be in writing. These agreements arecommonly known as work out agreements. When there is no way to repaythe debt, you should consider selling your home before you lose it inforeclosure. Selling the home may allow you to save your equity and protect yourcredit. This may help you in relocating to a new home. "Foreclosureconsultants" or "foreclosure specialists" often contacthomeowners who have received a notice of default. They may claim they canprevent the foreclosure, and may even suggest that you transfer title to yourhome to them. Persons who contact you and claim they can prevent a foreclosureshould be questioned carefully to determine how they believe that this can beaccomplished. CONSUMER CHECKLIST Foreclosure Avoid the risk of foreclosure by fully understanding the loan before you accept it. Make sure you will be able to make the monthly payments and any "balloon" payment(s). If you must miss a payment because of a special circumstance like a temporary disability or temporary unemployment, contact the lender or servicing agent before you miss the payment and suggest a plan for making up the payment(s) to be missed. Are you able to put an extra $50 per month on future payments? If you receive a notice of default, be sure the lender has accurately stated the amount you owe. If you have a plan to repay the missed payment(s), contact the lender promptly. If you are unable to make your payments or are in default and cant cure the default, consider selling the home before you lose it to foreclosure. Be cautious with anyone who contacts you claiming they can help you avoid the foreclosure without repaying the money you owe. Can I Find Out Why Credit wasDenied? Lenders may not base a decisionto deny you credit on your race, color, religion, national origin, ancestry,sex, marital status, or the fact that some of your income comes from a publicassistance program. The lender is required to inform you in writing of anadverse action (denial) taken on your application. If you make a timely writtenrequest, the lender must also tell you in writing why credit was denied. Also, effective January 1,2002, any person who makes, or arranges, loans secured by 1-4 unit residentialproperty, and who uses a consumers credit score in connection with theapplication, must give you a "Notice to the Home Loan Applicant"disclosing your rights to receive information regarding your credit score. Information and Complaints Federal Trade Commission (FTC) The FTC publishesfree pamphlets on home mortgages. California Department of RealEstate (DRE) TheDRE can tell you whether a mortgage broker has a current license, how long thebroker has been licensed, and whether the DRE has ever taken any formaldisciplinary action against the broker. This information can also be accessedthrough the DREs Web Site at http://www.dre.ca.gov . Private attorneys The county bar association in manycounties gives a referral to lawyers who have asked to be listed with the barreferral service. Legal Aid If you are on a fixed income orhave a low income, you may qualify for a lawyer through the county Legal AidOffice. CALIFORNIA DEPARTMENT OF REALESTATE Principal Office 2201 Broadway Post Office Box 187000 Sacramento, CA 95818-7000 (916) 227-0864 District Offices 2550 Mariposa Mall, Suite 3070 Fresno, CA 93721 (559) 445-5009 320 W. 4th Street, Suite 350 Los Angeles, CA 90013 (213) 620-2072 1515 Clay Street, Suite 702 Oakland, CA 94612 (510) 622-2552 1350 Front Street, Suite 3064 San Diego, CA 92101 (619) 525-4192 FEDERAL TRADE COMMISSION 901 Market Street, #570 San Francisco, CA 94103 (415) 356-5270 11000 Wilshire Blvd. Los Angeles, CA 90024 (310) 824-4343 Toll Free: 1-877-382-4357 Web site: http://www.ftc.gov This page last modified on Monday, February 03, 2003