Days Left

Michigan was the only state in the nation to see its home prices decline in value in 2006. The national average was a 5.87 percent increase, compared with Michigan’s -0.44 percent decline. Ouch. Michigan has been losing so many jobs especially on the east side of the state, Detroit and the surrounding areas are seeing a skyrocketing foreclosure rate. Statistics like this are even more reason to stay away from risky loans and work to pay off your home. If you are on an interest only loan you received within the last few years, you are actually losing ground. In the past you could get away with interest only as you could count on your home value increasing.

Michigan needs a big turnaround, and soon. I am still bewildered why the people of Michigan re-elected Gov Granholm, instead of a proven business leader in Dick DeVos.

Through 4/30/07 HSBC is offering a 6 % rate on savings accounts. This is only for “new money”. So it will not jump up the rate on any money you currently have on deposit (arg), but if you add new money to your account, it will receive the new rate. Here is the fine print on “new money”

New Money Period is January 29, 2007 through April 30, 2007. Starting Balance means the available balance in your account as of the close of business on January 26, 2007. New Money means funds not previously held by any member of the HSBC Group deposited during the New Money Period less any withdrawals, and it excludes your Starting Balance as calculated below. New Money must be in available funds for the promotional rate to apply.