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Times are tough in Michigan. Many Michigan residents have lost, or are in danger of losing, their jobs. To make matters worse, many homeowners who purchased homes, or refinanced their mortgages, in the last few years are facing monthly mortgage payments that are skyrocketing.
This “perfect storm” of job losses, rising monthly mortgage payments, property value depreciation, and other factors has resulted in some of the highest foreclosure rates in the nation.
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