$240,000 :: 37000 HOBARTH, Update MI, 48047

5 beds, 5 baths
Home size: 3,500 sq ft
Lot Size: 0 sq ft
Added: 08/14/18, Last Updated: 08/14/18
Property Type: Single Family
MLS Number: 725468
Community: Chesterfield Twp (50009)
Status: Sold

Gorgeous treed lot with white picket fence.CODE: 271

Listed with RE/MAX First


Brought to you by Janet Hull and Thomas Bush, Real Estate One, Inc.. Call me today at 1-855-Janet-Tom, or visit my website at www.JanetandThomas.com!


Continue Reading →

$240,000 :: 37000 HOBARTH, Update MI, 48047

5 beds, 5 baths
Home size: 3,500 sq ft
Lot Size: 0 sq ft
Added: 08/14/18, Last Updated: 08/14/18
Property Type: Single Family
MLS Number: 725468
Community: Chesterfield Twp (50009)
Status: Sold

Gorgeous treed lot with white picket fence.CODE: 271

Listed with RE/MAX First


Brought to you by Janet Hull and Thomas Bush, Real Estate One, Inc.. Call me today at 1-855-Janet-Tom, or visit my website at www.JanetandThomas.com!


Continue Reading →

$240,000 :: 37000 HOBARTH, Update MI, 48047

5 beds, 5 baths
Home size: 3,500 sq ft
Lot Size: 0 sq ft
Added: 08/14/18, Last Updated: 08/14/18
Property Type: Single Family
MLS Number: 725468
Community: Chesterfield Twp (50009)
Status: Sold

Gorgeous treed lot with white picket fence.CODE: 271

Listed with RE/MAX First


Brought to you by Janet Hull and Thomas Bush, Real Estate One, Inc.. Call me today at 1-855-Janet-Tom, or visit my website at www.JanetandThomas.com!


Continue Reading →

$93,900 :: 23021 ALMOND, Eastpointe MI, 48047

3 beds, 2 baths
Home size: 1,000 sq ft
Lot Size: 0 sq ft
Added: 08/14/18, Last Updated: 08/14/18
Property Type: Single Family
MLS Number: 320431
Community: Eastpointe (50026)
Tract: TEPPEERTS GOLDEN GATE
Status: Sold

Listed with Century 21 AAA North-Macomb


Brought to you by Janet Hull and Thomas Bush, Real Estate One, Inc.. Call me today at 1-855-Janet-Tom, or visit my website at www.JanetandThomas.com!


Continue Reading →

More than Six Million Homes Missing From U.S. Housing Market

It would take five years at the current building pace to add these homes Continue Reading →

Beyoncé And Jay-Z's Detroit Tour Stop Was All About Aretha Franklin

Thumbnail for 406536

Beyoncé paid tribute to the ailing Queen of Soul after DJ Khaled whipped up the crowd with one of her most iconic songs. Continue Reading →

Borrower Beware: Soon It Will Be Tough to Unload College Loans

(TNS)—Here’s a good reason to think twice about taking out piles of student loans after watching a catchy TV ad for a for-profit college.

The U.S. Department of Education is on a path to make it far tougher to get federal college loans forgiven using the argument that the school cheated you out of a good education by misleading you about job prospects or engaging in fraud.

The new rule—now under a public comment period—would apply to students seeking loans after July 1, 2019.

Consumer watchdogs, of course, charge that bad actors are getting a pass here. It would be up to students to prove that the school knowingly made false statements. What’s most troubling is that we’re often talking about low-income students, minority students or military veterans who have taken out loans to attend for-profit schools as they seek to build a better life and get training for a good-paying job.

Education Secretary Betsy DeVos has said the proposal lays out clear rules schools must follow, while protecting students from fraud. The administration maintains that the current rules had been too broadly interpreted, leaving taxpayers on the hook and opening the door for frivolous claims.

Yet many borrowers could be burned here. We’re looking at yet another reminder of why it’s savvy to be skeptical when costly for-profit colleges aggressively recruit you and make breathless promises about grants and financing.

All graduates don’t get good jobs.
Some schools do go out of business unexpectedly; others provide misleading claims and don’t provide a degree that employers really value.

Two years ago, for example, ITT Tech shut its doors following sanctions by the U.S. Department of Education. The sudden shutdown meant that students were able to seek a discharge of federal student loans—but not private student loans—from the federal government. For-profit Corinthian College closed its campuses in 2015, leaving students unable to complete their programs.

Often consumers find the pitch surrounding some for-profit programs very appealing. They’re looking to get on the fast path to a new, more promising career. Yet many students borrow heavily—too heavily—to chase those dreams.

Robin Howarth, senior researcher for the Center for Responsible Lending, says there’s growing concern that students attending for-profit schools can end up owing a great deal of money but only have limited potential for obtaining a job with a substantial paycheck in return.

The consumer watchdog group released a report in June that indicated, for example, that students face very high tuition and fees at for-profit colleges in order to receive training for healthcare support jobs. Many students borrow most of the money, but the jobs they find don’t pay enough to cover their living expenses and all that debt.

“Students need to pay very close attention to what kind of earnings are achieved,” Howarth says.

It’s important to look beyond average salaries in the medical field and look at the kinds of jobs obtained by students who attended that program.

Many times, Howarth says, earnings for similar programs are less when the student has attended a for-profit school than if the student studied a similar program at a public or private nonprofit college.

Often, Howarth says students may be better off obtaining training at a community college at a far lower cost.

Proving fraud isn’t easy for student borrowers.
Kurt O’Keefe, a Grosse Pointe Woods attorney who has a blog called “Discharge Student Loans,” says student borrowers would still face significant challenges under the new rules, if they want to try to get loans forgiven if they claim they were defrauded by the schools.

“Failing to deliver requisite skills and knowledge is a tough one to litigate,” O’Keefe says. “The schools will say the student just failed to learn.”

In addition, he noted that many who find themselves in such circumstances are from lower-income families and cannot afford to take legal action.

“A right that costs money to exercise, legal fees for your lawyer, does not help much when you are talking about people who cannot pay their loans to begin with,” O’Keefe says.

O’Keefe says the real problem is one that he refers to as “the triangle.”

“The schools get the money whether the student gets value or not, the government (usually) lends the money and chases the borrower for repayment. The schools have no skin in the game,” he says.

Part of the draft rules would allow the Department of Education to seek reimbursement for forgiven student loans from the institutions and that is good, he says.

“It would hurt scam schools and schools with scam programs, and could be used against any institution, public or private,” O’Keefe says.

Under a current regulation, borrowers with federal student loans might be able to get debt relief when they claim they were misled about the cost and quality of the education. It’s called the “Borrower Defense to Repayment” rule.

The Education Department notes students may be eligible for borrower defense regardless of whether your school closed or you are otherwise eligible for loan forgiveness under other laws.

Consumers with questions or pending claims regarding borrower defense may call the Department of Education’s hotline at 855-279-6207 from 8 a.m. to 8 p.m. weekdays. As of January, the Department of Education has received 138,989 claims—and 23 percent had been processed. The bulk of the claims processed were associated with Corinthian and ITT.

New rules would save the government billions.
The proposed change in regulations would significantly limit the situations under which borrowers could qualify for financial relief, says Mark Kantrowitz, publisher and vice president of Research for Savingforcollege.com.

“The changes appear intended to primarily reduce costs to the federal government,” Kantrowitz says. “While the previous regulations may have been too permissive—allowing cancellation of debt based on just accusation of wrongdoing—the new regulations go too far in the opposite direction. As the lender, the federal government should have some responsibility to the borrower.”

It’s estimated that the new proposal could save the federal government nearly $13 billion over the next decade.

It’s a substantial savings, given that the Education Department had put a $14.9 billion price tag over the next decade for the program under the more-broadly defined regulations.

The new regulations would permit the U.S. Department of Education to provide partial relief instead of cancelling all of the borrower’s loans, depending on the level of harm suffered, he says.

Under the new rules, borrowers would need to prove that the college intended to defraud—a very difficult standard.

Also significant: Only borrowers already in default could apply for relief under the proposed rules. As a result, a borrower who was actively repaying the loans wouldn’t get help.

“This might lead some borrowers to intentionally default on their federal student loans,” Kantrowitz says.

Defaulting can seriously harm your credit score, and drive up borrowing costs when you want to take out a car loan, home mortgage or open up a credit card. A default will be reported to credit bureaus.

Most often, you do not want to go into default. If you default on student loans, you will be subject to collection charges and wage garnishment, and the government can seize your income tax refund, too.

©2018 Detroit Free Press
Distributed by Tribune Content Agency, LLC

For the latest real estate news and trends, bookmark RISMedia.com.

The post Borrower Beware: Soon It Will Be Tough to Unload College Loans appeared first on RISMedia.

Continue Reading →

$181,900 :: 50373 BURLWOOD, CHESTERFIELD Township MI, 48047

Thumbnail for 406379
Property Photo

3 beds, 1.1 baths
Home size: 1,234 sq ft
Lot Size: 8,712 sq ft
Added: 08/13/18, Last Updated: 08/13/18
Property Type: Single Family
MLS Number: 58031356850
Community: Chesterfield Twp
Tract: WINCHESTER SUB 2
Status: Active

Upgraded Laminate floors in bedrooms. Wood floor in Living room with beamed cathedral ceiling and natural fireplace. 10×4.6 ceramic foyer with newer door. Stove, refrigerator, washer, drier to stay if desired. Newer windows. Doorwall of kitchen to double deck. Seller is supplying a 1 year home warranty. 1/2 bath off attached garage entrance. Large corner lot.

Listed with Keller Williams Realty Lakeside


Brought to you by Janet Hull and Thomas Bush, Real Estate One, Inc.. Call me today at 1-855-Janet-Tom, or visit my website at www.JanetandThomas.com!


Continue Reading →

$84,900 :: 33738 Bayview Dr, Chesterfield MI, 48047

Thumbnail for 406316
Property Photo

2 beds, 1 bath
Home size: 968 sq ft
Lot Size: 0 sq ft
Added: 08/13/18, Last Updated: 08/13/18
Property Type: Condo/Townhouse/Co-Op
MLS Number: 31356906
Community: Chesterfield Twp (50009)
Tract: Hidden Harbor
Status: Active

Sweet, Carriage End Unit Condo. Neat & Clean, New carpet thru out, freshly painted, Kitchen offers: Ample cabinets and all appliances including washer & dryer. 1 Car attached garage W/door opener. Furnace and Central Air installed in early 2017. Short walk to award winning Anchor Bay Elementary School. Also walking distance to Brandenburg Park and the lake. Also close to I 94.

Listed with RE/MAX Suburban, Inc.


Brought to you by Janet Hull and Thomas Bush, Real Estate One, Inc.. Call me today at 1-855-Janet-Tom, or visit my website at www.JanetandThomas.com!


Continue Reading →

$212,000 :: 50802 RAINTREE CIR #16 Bldg 5, CHESTERFIELD Township MI, 48047

Thumbnail for 406349
Property Photo

2 beds, 2 baths
Home size: 1,352 sq ft
Lot Size: 0 sq ft
Added: 07/19/18, Last Updated: 08/13/18
Property Type: Condo/Townhouse/Co-Op
MLS Number: 58031354321
Community: Chesterfield Twp
Tract: RAINTREE CONDO
Status: Sold

Super Sharp Well Kept Ranch Unit, 2 Bdrms, 2 Full Baths, 2 Car Attached Garage & A Basement. Open Entry to Great Room. Wall Electric Fireplace Unit to Stay. Master Bdrm w/Private Bath on one side of Condo and Bdrm 2 w/Main Bath on other side. Open Kitchen w/Breakfast Nook, Oak Cabinets w/Pull Outs. Includes all Kitchen Appliances. 1st Flr Laundry w/Washer Dryer Included. Deck off Rear Stained 2017, New Roof on Buildings 2013, Unit backs to Woods, Total Privacy & Serenity. Finished Bsmt w/Open Rec Room & Possible 3rd Bdrm (No Egress). Well Maintained, Move in Ready!! What are you waiting for. $200 Monthly Association Fee Includes $25 Monthly Assessment till 2021 for Exterior Building Paint, Buyer to Assume. Association Fee Includes Trash, Water/Sprinklers/Ext. Maintenance. Sellers needs Occupancy until end of October. Furnishings Negotiable

Listed with RE/MAX Suburban, Inc.


Brought to you by Janet Hull and Thomas Bush, Real Estate One, Inc.. Call me today at 1-855-Janet-Tom, or visit my website at www.JanetandThomas.com!


Continue Reading →