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Detroit, MI Reverse Mortgage in Michigan

If you’re a homeowner 62 years or older, consider the tax-free income benefits of a Reverse Mortgage.  Unlike a regular mortgage, with reverse mortgages the lender makes payments to you.  Detroit, MI residents can choose to receive the money from a reverse mortgage in fixed monthly payments, a line of credit, or in a lump sum.  More than 55% of borrowers choose the line of credit, which allows you to draw from the loan at any time.

 

The amount of your reverse mortgage is determined primarily by your age and appraised home value.  To find out just how much you can get, speak to one of our Reverse Mortgage Specialists today!

Return to reverse mortgage in the state of MI

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Detroit, Michigan News
Woman gives Detroit $300,000 to maintain Belle Isle

A former Detroit woman who died in Florida last year at 95 has left the city half of her $600,000 estate to help maintain Belle Isle, a park in the Detroit River.


Bank Crisis Fallout: UAW Leaders Explore More Concessions to Aid Auto Industry

United Auto Worker leaders from across the United States will meet in Detroit Tuesday to discuss more contract concessions to reduce costs to strapped automobile companies.

The discussions are just over a year after the UAW and the Big Three Auto Workers negotiated groundbreaking reductions to contracts as a means to support the flagging automobile companies.

Those contracts set lower labor rates for new employees and called for the transition of health care for retirees to a union-operated consortium to reduce Big Three costs.

Last month, when leaders from the UAW and Chrysler, Ford and GM approached congress for approval of a $25 Billion bridge loan to cover expenses, the UAW was criticized for not making enough sacrifice in its contracts.

This occurred after the same Congress approved a $700 Billion bailout with no guarantee of repayment for the banking system with no questions asked.


State budget battle looms

LANSING -- State lawmakers and Gov. Jennifer Granholm face yet another budget deficit and more potentially clamorous issues as the Legislature begins its lame-duck session this week.


Ex-mayoral aide pleads guilty in Detroit scandal

Ex-mayoral aide pleads guilty in Detroit scandal BY ED WHITE : Associated Press Writer Dec 1, 2008 Stoic and publicly silent through months of a sex scandal, the woman whose relationship with former Mayor Kwame ...


Kilpatrick files to get law license suspended, not revoked

An attorney for former mayor Kwame Kilpatrick late today filed a petition with the state Attorney Discipline Board to have the revocation of Kilpatrick's law license downgraded to a suspension.


Tiger Stadium Group Presents To City Council

The Old Tiger Stadium Conservancy group will present a plan to the Detroit City Council today, showing they will be able to raise the at least $12 million needed to save a portion of the stadium from ...


Governor's address celebrates Thanksgiving

Monday, December 01, 2008 at 8:30 a.m. LANSING A - In her weekly radio address, Governor Jennifer M. Granholm today said that Thanksgiving Day in Michigan means different things to different people and ...


Police: Michigan man, 91, strangled wife, 87

St. Clair County authorities say an 87-year-old woman with Alzheimer's disease apparently was strangled by her 91-year-old husband, who then tried to kill himself.


Iraqi doctors come to U.S. for training, fellowship

Being an ear, nose and throat specialist in Iraq doesn't feel so dangerous any more for Kareem, one of 27 Iraqi medical doctors who spent the past month learning about health care in the United States.


East coast storms cause some flight delays at Metro Airport

Thanksgiving travelers returning to Detroit Metro Airport Sunday for the annual trek home after holiday festivities experienced some delays in the air but even bigger delays on the roads as slushy snow created ...


Article Comments

A plea deal for Christine Beatty could be sealed Monday morning according to sources aware of efforts over the past week to resolve the perjury and obstruction of justice case against her without a trial.


Wayne County judge shoots at suspected robbers

Wayne County Circuit Court Judge Craig Strong shot at three men suspected of robbing his home at 7:15 p.m. today on the 1700 block of Seminole in Detroit's Indian Village, police said.


Fetus at Detroit wastewater plant puzzles police

Investigators in Detroit say they have little to go on in the case of a fetus found in a municipal wastewater treatment plant.


More Than 600 Pounds Of Pot Seized From Detroit Home

Neighbors celebrated Tuesday as police arrested three people running a drug home on Detroit's southwest side and confiscated more than $ 1 million worth of drugs.


Victory for wine lovers sours as Michigan tries again to ban direct shipping

LANSING -- Joe Chess, an orthopedic surgeon from Kalamazoo, said his passion for fine wine is deep.


Attorney says state pre-empts Ferndale pot law

Carl Swanson has voter approval but still may be unable to distribute marijuana to sick patients in suburban Detroit.


Michigan shoppers cautious

With three bags in one hand and two in the other, Norene Pelaccio stopped to flex her fingers at Fairlane Town Center.


Alert: Amber Alert Issued For Detroit Girl

Michigan State Police issued an Amber Alert for an 8 year-old girl from Detroit.


At house where firefighter Walter Harris died, ex-cop's sign protests arson

There are flower bouquets along the porch of the house where Detroit firefighter Walter Harris died.


Man Killed In Senior Complex Fire

A fire that broke out in one wing of a senior citizens complex south of Detroit has killed one man, injured four people and displaced about 80 other residents.


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