Affiliate Updates for June 2020

 
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JOHN ADAMS/FRONT STREET MORTGAGE

$500 LENDER CREDIT FOR FIRST RESPONDERS AND HEALTHCARE HEROES! John Adams and Front Street are offering a $500 lender credit to be applied to the closing costs of a home purchased by a first responder or healthcare hero on the frontlines. If you know a hero who’s in the real estate market, make sure they know about this money-saving incentive!

This offer can be redeemed by EMS, firefighters, police, doctors, nurses, medical admin staff and more. If you have any questions, please contact your office’s mortgage specialist or email mortgages@johnadamsmortgage.com.

*This credit cannot be applied to MSHDA loans.

CAPITAL TITLE

Thank you to Lisa Rozmarniewicz, Director of Sales and Marketing, for taking us behind the scenes on how closings are done these days!! Check it out below!

INSURANCE ONE

Make sure your business-owning friends and family are covered with Commercial Insurance.

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Commercial Insurance is helpful for:

  • Apartments

  • Contractors

  • Restaurants

  • Brick + Mortar Stores

  • Golf Courses

There’s a lot more to know about Commercial Insurance policies, so reach out if you have more questions! 800-752-0680

RENTAL MANAGEMENT ONE

Michigan Eviction Moratorium Has Expired

Governor Whitmer’s nearly four month eviction moratorium has expired. You may now issue nonpayment demands, suits and writs. Please note the following:

  • The Governor can reinstate this moratorium at any time, without notice.

  • Once nonpayment cases are filed again, they will be subject to the Supreme Court Order (addressed in my June 11th email attached for reference). That Order remains in effect until all cases that arose from debts incurred during the moratorium are addressed. 

  • Also, courts may experience extremely high volume so expect processing delays on their end.

  • Nonpayment cases will be subject to a new eviction diversion model and much greater legal aid access for all tenants. For more information on the Eviction Diversion Program click here  MSHDA will allow access to rental assistance funds through the Housing Assessment and Resource Agency (HARA). A list of all HARAs by county can be found on the attached list.

  • Any CARES properties must still wait until after July 25th to pursue any nonpayment remedies. Please note that even if your property is not covered by CARES, if you accept any Section 8 vouchers, that could still result in your property being subject to it beyond just the tenancy at issue. 

  • Also, if you as the property owner have taken forbearance on a multifamily mortgage, you are also precluded by CARES from any nonpayment remedies for the equivalent period of your forbearance. After the 25th, for any CARES properties, a 30 day nonpayment demand (as opposed to the traditional 7 days in MI) will need to be done before initiating suit on debt from the CARES moratorium. 

  • The federal moratorium on eviction of homeowners with FHA-insured single family mortgages goes through 8/31/20. There is still an exception if the home is legally vacant or abandoned. 

This email is for reference only and not to be used in lieu of legal advice. As always, you should speak with your attorney for answers to any specific legal questions you may have. Rental Management One is currently accepting new clients and would be happy to help you or your clients with their property management needs.

If you are interested in speaking to a property manager regarding our services please click here.

 
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