News You May or May Not Like but, it does Affect you!

Hello, Good Morning & Happy Holidays from your friends & partners here at Franklin Title Agency,

I am back from a well needed nearly 2 week vacation to Clearwater / Tampa Florida (no this is not the news you may or may not like :) - it's below) & checking in with you to see if there is anything you need from us this final week before Christmas in terms of ordering title, updating title, title questions, deed work completed, short sales negotiated, and of course closings scheduled?

News You May or May Not Like, But it Affects you Anyways!

Waiting for Granholm's Signature:

-Legislation, which would put mortgage payoff calculation responsibilities back in the hands of the County Clerk for residents of two Southeast Michigan counties, is awaiting Governor Granholm's signature.

H.B. 5267 gives homeowners in Oakland and Macomb counties, who are in the process of foreclosure, a chance to pull their homes out of the process, even if the property has already gone to the Sheriff's department for a sale. The law was changed in 2005, giving the ability to calculate payoff amounts to banks. There were problems with the 2005 change. Some of the lending institutions were charging homeowners' fees for the payoff figures. In other cases, homeowners who were able to pay off the debt and pull their homes out of foreclosure were unable to get in touch with the institutions, missing the deadline and losing their homes. If signed by the Governor, the law will apply to counties with more than 500,000 residents and less than 1.5 million residents. "The legislation won't help everyone. Some people are still going to lose their homes, but there should be some set of checks and balances to keep people from falling victim to unscrupulous companies," states Ruth Johnson, Oakland County Clerk/Register of Deeds, who will be sworn into office as Michigan's Secretary of State on January 1, 2011.  Oakland County reports 9,242 homes foreclosures in 2008, almost 8,500 in 2009, and more than 8,700 this year.  

Please let me know if there is anything we here at Franklin Title Agency can do for you or your customers - Thank you for a great couple of weeks while I was out & have an amazing Holiday with friends, family, clients, & co-workers.
   

Keith Stonehouse
Vice President
Franklin Title Agency, LLC
http://www.franklintitleagency.com
Office: 248-564-4022 / Cell: 248-894-4785  

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Proud Member of:
Tempus Business & Charitable Networking, Founder & Co-Host
Rochester Chamber of Commerce, Ambassador
Boys & Girls Club Advisory Council: Auburn Hills
American Cancer Relay for Life: Auburn Hills
Zoning Board of Appeals: Auburn Hills
Historical Society: Auburn Hills
North Oakland Board of Realtors
YPN, Young Professionals Network MI, Sponsor Chair
Women's Council of Realtors: Rochester, Treasurer
Women's Council of Realtors: Birmingham/Bloomfield
Women's Council of Realtors: Lake Pointe
Women's Council of Realtors: North Oakland