Michigan Real Estate News

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Mall Retailer Victoria’s Secret Closing Up To Fifty Stores In 2021

Victoria’s Secret, a brand of L Brands, intends to close up to 50 stores in 2021. This is after the closure of 250 stores in 2020. L Brands continues to look for a solution to its Victoria’s Secret problem, including spinning the brand off to a private equity firm.

Biden Extends Foreclosure Moratorium & Expands Relief Program

Using a three-pronged approach, President Biden rolled out mortgage protections. He extended the expiration date for the foreclosure moratorium from March 31 to June 30 and extended the enrollment window to request a mortgage payment forbearance. The third protection allows borrowers to defer mortgage payments for an additional six months. Eligible homeowners must have enrolled in a forbearance plan by June 30, 2020.

Homebuyer Mistakes That Can Derail or Delay Closing

Sometimes, first time home buyers don’t know what they don’t know.  Buyers need to be proactive at the start of the home buying process or common mistakes can stall their efforts. Some proactive steps include paying attention to the paperwork when it’s first received to check for errors, making sure the property assessment matches or is under your offer by doing your market research before submitting your offer and keeping a tight rein on big-ticket spending prior to closing.