Reverse Mortgage Guide

Here’s a reverse mortgage story with a good result.

Crain’s Detroit Business reports that “Vertical Lend, licensed to operate in 33 states and in the process of changing its name to World Alliance Financial, obtained $3.5 million in tax incentives in April from the Michigan Economic Growth Authority to locate a national office in Troy and create hundreds of jobs.

“Last week, the company announced it had created 100 jobs since opening its Troy office in June. That qualifies the company for a $50,000 training grant through the Oakland County Department of Economic Development and Community Affairs, department Deputy Director Maureen Donohue Krauss said.”

If you have been to Flint and Detroit you know that Michigan’s economic base is being destroyed. The auto industry refuses to embrace better mileage for cars, thus losing out to foreign competitors who seem to have figured out that gas at $90 a barrel is a concern. The housing market in much of the state has been demolished. At a conference in Dallas for loan servicers I was told you could buy foreclosed properties in some Michigan areas for as little as 30 cent on the dollar.

The people in Michigan deserve better and it’s good to see someone generating jobs there.

This entry was posted on Tuesday, October 30th, 2007 at 3:32 pm and is filed under Reverse Mortgage . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.