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Pending - HUD home on Jim Drive

$77,000 Great buy!

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Address: 50250 Jim Drive	City/ST: Chesterfield, MI	Zip Code: 48047
Location: Chesterfield	Property Type: Single Family Home	New or Resale: Resale
Square Footage: 30749150	Bedrooms: 3	Bathrooms: 1
MLS# 1066

HUD home. Sold 'AS IS' by Elec Bid only. For Prop. conditions, Forms, Discl, Avail & Owner Occupant Incentives see Website in Agent Remarks*. Insured w Escrow repairs $1,458. Bids due by 11-17-09 11:59 PM or daily until sold. MCB makes no warranty as to current or future existence of mold in this property and is not liable for the potentially harmful effects thereof.

Last Updated: 11/19/2009 6:17:43 AM

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Financing Your Home >Balloon Mortgages

In loan terminology a "balloon" is the unpaid loan balance that must be paid in full on a specified due date. Federal savings and loan associations are permitted to make balloon mortgages with as little as five percent down and monthly payments that are smaller than the amount needed to fully amortize the debt. On the due date, which may be only a few years after the loan was made, the balance must be paid off or the loan must be renegotiated. Balloon borrowers must be cautious and plan carefully to avoid overlooking balloon payment obligations. It is easy to be lulled into complacency by the easy monthly payment terms.

Today's complex economics have produced a wide variety of options for potential borrowers, who are often surprised by how much house they can afford to buy. Loan approval is ultimately in the lender's hands, but your real estate agent can help you to determine your real buying power.

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Q	Legend has it that when Brigham Young first saw this city in 1847, he exclaimed: "This is the place!"
A	Salt Lake City, Utah.
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Holly Peters, REALTOR�, real estate agent and broker for Harrison Township, St. Clair and Macomb, Michigan home listings, property and land for sale - NUMBER1EXPERT

Holly Peters
Keller Williams Macomb St. Clair Market
31525 23 Mile Rd.
Chesterfield, MI 48047
Holly's Cell : 810-300-4015
Office: 586-949-0200
Fax: 586-949-0211
hollypeters@NUMBER1EXPERT.com
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