debt

Introduction Debt consolidation through mortgage refinancing is a powerful tool that can help homeowners reduce financial stress and save money. If you have high-interest credit card balances, personal loans, or auto loans, rolling them into your mortgage can lower your total monthly payments and free up extra cash each month. At Ross Mortgage, we know…

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young couple in bad financial situation stress asking for help

Introduction High-interest debt isn’t limited to credit cards. Many homeowners are also burdened with personal loans, payday loans, and auto loans that come with steep interest rates. If you’re struggling to keep up with these payments, there’s good news: your home equity could help you break free from the cycle of debt and gain financial…

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young couple looking frustrated at paperwork

Introduction Credit card debt is a growing concern in the U.S. According to the Federal Reserve, total credit card debt has surpassed $1 trillion, with the average household carrying a balance of over $5,700. Worse, many credit cards carry interest rates between 25% and 30%, making it nearly impossible for some families to get ahead…

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Picking new home base on budget concept. Income or lifestyle. House or mortgage affordability calculation, businessman hand wisely think to picking different variant houses with price tag.

Introduction Big news for Michigan homebuyers! With the signing of HB 5032 into law, Governor Gretchen Whitmer has initiated a significant change in the state’s housing market. Starting in May 2025, the Michigan State Housing Development Authority (MSHDA) will increase its maximum sales price limit. This historic update opens the door to affordable homeownership for…

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photo of house showing a scam

At Ross Mortgage, your financial security is our top priority. We’re dedicated to keeping you informed about potential threats that could put your homeownership at risk. Today, we’re sharing an important warning issued by the Federal Communications Commission (FCC) about a widespread scam targeting homeowners across the United States. What You Need to Know About…

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With the 2024 presidential election approaching, many wonder how political factors will impact the housing market, especially in states like Michigan. Tim Ross, CEO of Ross Mortgage, recently addressed these concerns with Fox 2 Live Detroit. How are political factors influencing the housing market, particularly in Michigan? According to Tim, political discussions surrounding housing policy…

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If you’re worried about high interest rates making homeownership less affordable, you’re not alone. At Ross Mortgage Corporation, we have over 75 years of lending experience and we offer a solution to ease your concerns: the Ross Rate Reducer, commonly called a one-year buydown. This option prepays your interest which in return temporarily lowers your…

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If you’re a veteran or active-duty service member looking to buy a home with a VA loan, there are some recent changes you should know about. These changes can affect how you work with real estate agents and what costs you might have to cover. What’s New? Temporary Fix for Realtor Fees: The Department of…

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At Ross Mortgage, we understand that every home buyer or homeowner has unique dreams and challenges. That’s why we offer FHA 203K loans—a perfect solution for those looking to transform a fixer-upper into the home of their dreams or enhance the value of their current residence. With 75 years of experience in the mortgage industry,…

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