I am not from the state of MI, but I believe that there is a redemption period there in which you can recover the property by paying all debts as well as all foreclosure costs.

Could the current buyer put more down to avoid the MI (and thus the flip issue)?

Michael Lerch, it's really not unusual for anyone in Michigan who purchased or re-fi'ed in the mid-2000's to owe significantly more than they paid.Case-Shiller has a home price index that sets home prices in the year 2000 to a baseline of 100.

Family friends of ours found a "great deal" on a 6500 square foot house on an acre and a half lot in Bloomfield Hills Michigan in 2002.

depends on your budget. they are no cheap to purchase, but nice to have. even if tenants do not use them. i take mine out since the ceiling heights in the older homes make it dangerous to have them. and it's michigan...we really do not need them for the most part.

I live in Michigan and I think your chart is way off or very old.

I would prefer Chicago, but am open to Charlotte, Austin, Dallas, the rest of the Rust Belt (Pittsburgh/Cleveland/Michigan/etc.).D.

Trying to decide; probably a no-brainer but I am asking for advice.1) Family one - Mother with two kids, moving here from Michigan.

Originally posted by Karen M.:I

I'm had great success with land contracts (installment sale, contract for deed) here in West Michigan.