12.17.2009

New Vocabulary for a New Market –“Strategic Default”

It used to be unthinkable to stop paying the mortgage.

More Americans are finding themselves “underwater” on their mortgages. They owe more to the bank than their properties are worth. A house that was purchased for $240,000 several years ago, and there is still $218,000 outstanding on the loan, now finds the property is only worth $130,00 or less. Even if the homeowner can still afford to pay, should they? Especially when they can rent a comparable space for less than their mortgage payment.

More and more people, where house values have plumpeted are considering a “strategic default” – walking away from their mortages – not out of necessity, but because they think it is in their financial best interest.

A standard mortgage-loan document reads, "I promise to pay" the amount borrowed plus interest, and some people say that promise should remain good even if it is no longer convenient. What makes it immoral for a homeowner to walk away from debt, but we have allowed banks to walk away from debt with impunity? Should borrowers take a cue from lenders that ruthlessly sought to maximize profits or minimize losses irrespective of concerns of morality or social responsibility.

Strategic Default is not without its risks. Walking away isn't risk-free. A foreclosure stays on a consumer's credit record for seven years and can send a credit score plunging. A lower credit score means auto and other loans are likely to come with much higher interest rates, and credit card issuers may charge more interest or refuse to issue a card.

As the idea of a strategic default makes more sense to homeowners with negative equity, will we see more decline in values. In neighborhoods with high concentrations of foreclosures, is it going to be really difficult to prevent a “cascade effect" as one strategic default emboldens others to take that drastic step?

First American CoreLogic, a real-estate information company, estimates that 5.3 million U.S. households have mortgage balances at least 20% higher than their homes' value, and 2.2 million of those households are at least 50% under water. The problem is concentrated in Arizona, California, Florida, Michigan and Nevada.

What would you do?

If You Walk Away, Who Can Sue You for a Deficiency Judgment... And Will They?


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12.13.2009

What is a Foreclosure?


Foreclosure is a legal process by which a bank, mortgage company or other creditor takes a homeowner’s property in order to satisfy a debt. The foreclosure is the result of non-payment of the mortgage (including second mortgages and home equity loans); however, people also lose their homes due to unpaid property taxes. As a result of the foreclosure (at the end of the redemption period), the homeowner loses the rights he or she had to the property.

FORECLOSURE TIMELINE:

Day 1-15
Mortgage payments are typically (not always) due on the first of each month. If the payment is not made by the due date it is considered delinquent.
Day 1-15
A late fee is usually assessed to the mortgage account after day 15. The first notice is usually mailed on the 16th of the month. You may begin getting phone calls at this time.
Day 31-45
Servicer sends “demand” or “breach” letter to the borrower pointing out that terms of the mortgage have been violated.
Day 61-90
When a loan is 60 days past due, the lender may initiate acceleration procedures by sending a letter notifying the borrower that foreclosure is the next step. At this time the lender will only accept your total past due which includes: all past and current payments with late fees and interest.
Acceleration procedures include lenders refusing to accept any partial payments and requiring that the past due balance on the mortgage be paid in full, and can even mean that the lender will void any payment agreement and call the loan due in full.
Day 91-105
Servicer refers loan to foreclosure department. Hires local attorney or other firm to initiate foreclosure proceedings.
Once acceleration begins, if you abandon the property or the property is red tagged, your home may be repossessed. This may include your locks beginning changed and your utilities are disconnected.
Foreclosure proceedings can start any time after the acceleration notice is sent, but usually happens when the loan is 90 or more days past due. This is when attorney fees become a significant part of the fees due.
Day 150-415
House sold at foreclosure sale or auction. Wide time range due to different state requirements. Foreclosure can happen in Michigan either by judicial action or by newspaper advertisement (sheriff sale). The most common foreclosure action in Michigan is by advertisement. In this procedure, the lender’s attorney advertises the property for sale in a general-circulation newspaper for four consecutive weeks.
The sheriff sale date is listed in the advertisement, and following the four weeks the county sheriff sells the property to the highest bidder (which is usually the lender).
The officer conducting the sale will execute and deliver a “sheriff’s deed” for the premises to the highest bidder. The deed will specify the last date that the mortgagor can redeem the property. This deed must be recorded within 20 days of the sale, and the person recording the deed will endorse the date and time it was received on the document. If the property is redeemed the sheriff’s deed will be destroyed.
Day 150-415+
After the property is sold at a sheriff sale the mortgagor has a redemption period during which time the property can be reacquired. The redemption period in Michigan is usually six months, except in situations where there are more than four units; less than 2/3 of the original debt owed, multiple acres and/or abandonment occur. In order to redeem the property at this point you must pay off the mortgage, all interest and late fees, court costs, attorney fees, title and appraisal fees. If the sheriff deed holder paid taxes or insurance after the sheriff sale, the mortgagor must pay those fees as well. Redeeming the property by getting another mortgage is very difficult because of the bad credit rating that resulted from the foreclosure. Redeeming the property by selling it on the market is often a good option. If the property is redeemed, the original rights and obligations of ownership are reinstated.

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Home Inspections Avert Future Headaches

Suppose you bought a house and later discovered, to your dismay, that the stucco exterior concealed a nasty case of dry rot. Or suppose that when you fired up the furnace in the winter, you discovered a cracked heat exchanger leaking gas into your home. The best way to avoid unpleasant surprises like these is to arrange for a home inspection before you buy.

Home Inspections Help You Avoid Unpleasant Surprises

A good home inspection is an objective, top-to-bottom examination of a home and everything that comes with it. The standard inspection report includes a review of the home's heating and air-conditioning systems; plumbing and wiring; roof, attic, walls, ceilings, floors, windows, doors, foundation and basement.

Getting a professional inspection is crucial for older homes because age often takes its toll on the roof and other hard-to-reach areas. Problems can also be the result of neglect or hazardous repair work, such as a past owner's failed attempt to install lights and an outlet in a linen closet.
A home inspection is also a wise investment when buying a new home. In fact, new homes frequently have defects, whether caused by an oversight during construction or simply human error.

Getting an Inspector

Real estate agents can usually recommend an experienced home inspector. Home inspections cost about a few hundred dollars, depending on the size of the house and location. Inspection fees tend to be higher in urban areas than in rural areas. You may find the cost of inspection high, but it is money well spent. Think of it as an investment in your investment – your future home.

Some builders may try to dissuade you from getting a home inspection on a home they've built. They may not necessarily be trying to hide anything because most builders guarantee their work and will fix any problems in your new home before you move in. Some builders, in fact, will offer to do their own inspections. But it’s best to have an objective professional appraisal - insist on a third-party inspector.

An Inspection Will Educate You about Your House

Education is another good reason for getting an inspection. Most buyers want to learn as much as they can about their purchase so they can protect their investment. An examination by an impartial home inspector helps in this learning process.
Ask if you can follow the home inspector on his or her rounds. Most inspectors are glad to share their knowledge, and you'll be able to ask plenty of questions.

Inspection Timing and Results

Homebuyers usually arrange for an inspection after signing a contract or purchase agreement with the seller. The results may be available immediately or within a few days. The home inspector will review his or her findings with you and alert you to any costly or potentially hazardous conditions. In some cases, you may be advised not to buy the home unless such problems are remedied.

You could include a clause in your purchase agreement that makes your purchase contingent upon satisfactory inspection results. If major problems are found, you can back out of the deal. If costly repairs are warranted, the seller may be willing to adjust the home's price or the contract's terms. But when only minor repairs are needed, the buyer and seller can usually work out an agreement that won't affect the sale price.
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12.12.2009

What does REO mean?

What does REO mean?
REO stands for Real Estate Owned. In the current real estate market, banks and lending institutions have had to take back thousands of properties in the foreclosure process. Bankers are now finding themselves in the real estate business instead of the lending business. Whole new departments are springing up inside of a bank’s organization. In 2005 you never heard of a short sale department or loss mitigation. Now they are commonplace.
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12.06.2009

Military Families Receive Extra Benenfit from Home Buyer Tax Credit

Members of the military and certain other federal employees serving outside the U.S. have an extra year to buy a principal residence in the U.S. and qualify for the credit.

Thus, an eligible taxpayer must buy, or enter into a binding contract to buy, a principal residence on or before April 30, 2011. If a binding contract is entered into by that date, the taxpayer has until June 30, 2011, to close on the purchase.

Members of the uniformed services, members of the Foreign Service and employees of the intelligence community are eligible for this special rule. It applies to any individual (and, if married, the individual’s spouse) who serves on qualified official extended duty service outside of the United States for at least 90 days during the period beginning after Dec. 31, 2008, and ending before May 1, 2010.
More on Military Family Benefits
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12.04.2009

IMPORTANT! - HOME BUYER TAX CREDIT IS REFUNDABLE!

-A refundable credit means that if the amount of income taxes you owe is less than the credit amount you qualify for, the government will send you a check for the difference.

-For example:-A first-time buyer who qualifies for the full $8,000 credit who owes $5,000 in federal income taxes would pay nothing to the IRS and receive a $3,000 payment from the government. If you are due to receive a $1,000 refund, you would receive $9,000 ($1,000 plus the $8,000 first-time homebuyer tax credit).

-A repeat buyer who owes $5,000 would pay nothing to the IRS and receive $1,500 back from the government. If you are due to get a $1,000 refund, you would get $7,500 ($1,000 plus the $6,500 repeat buyer tax credit).-All qualified homebuyers can take the tax credit on their 2009 or 2010 income tax return.
More on Tax Credit

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12.02.2009

HOME BUYER TAX CREDIT EXTENSION Q & A

As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed new legislation that:
1. Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010.
2. Expands the credit to grant up to $6,500 credit to current home owners purchasing a new or existing home between November 7, 2009 and April 30, 2010.

Who Qualifies for the Extended Credit?
1. First-time home buyers who purchase homes between November 7, 2009 and April 30, 2010.
2. Current home owners purchasing a home between November 7, 2009 and April 30, 2010, who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight.
Which Properties Are Eligible?
The Extended Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.
How Much Is Available?
The maximum allowable credit for first-time home buyers is $8,000.
The maximum allowable credit for current homeowners is $6,500.
How is a Buyer's Credit Amount Determined?
Each home buyer’s tax credit is determined by two additional factors:
Price
Under the Extended Home Buyer Tax Credit, credit may only be awarded on homes purchased for $800,000 or less.
Buyer Income
Under the Extended Home Buyer Tax Credit, which is effective on November 7, 2009, single buyers with incomes up to $125,000 and married couples with incomes up to $225,000—may receive the maximum tax credit. These income limits have changed from the 2009 First-Time Home Buyer Tax Credit limits.
If the Buyer(s)’ Income Exceeds These Limits, Can He/She Still Get a Credit?
Yes, some buyers may still be eligible for the credit. The credit decreases for buyers who earn between $125,000 and $145,000 for single buyers and between $225,000 and $245,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income—over $145,000 for singles and over $245,000 for couples are not eligible for the credit.
Can a Buyer Still Qualify If He/She Closes After April 30, 2010?
Under the Extended Home Buyer Tax Credit, as long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close.
Will the Tax Credit Need to Be Repaid?
No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during this three-year period, the full amount credit will be recouped on the sale.

Article from: The Basics: Extended Home Buyer Tax Credit 2009/2010
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11.30.2009

9 Do's & Don’ts of Holiday Home Staging

You want to show off your house, not the holiday decorations. Some decorations, done tastefully, will convince buyers that they can make this house, their “home for the holidays”.

No Huge Inflatable Yard Decorations - Curb appeal is as important in winter as the rest of the year. Forego this year’s neighborhood lighting contest. Keep the lighting to a minimum, accent specimen trees or outline the architecture.

No Scents - Holiday aromas-baked goods and live greens-enhance seasonal decor, but overly strong odors from air fresheners and candles may send buyers running.

No Oversized and Over-Decorated Trees – If you have soaring ceilings show them off with a taller tree; just be cautious of the amount of floor space that the tree occupies. You are selling square footage, not holiday décor. Pick colors to compliment your décor. But, too much red and green can backfire. A neutral palette of fresh greens, elegant silvers and gold’s, and classic white will compliment almost any décor.

No Window Decals – Or wreaths, garlands, or other decorations that will restrict light flow or the view.

Don’t Hide the Positives - Holiday villages consumes space, too much garland on the staircase railings & fireplace mantle hide sellable details, to many holiday accents on the tables equals visual clutter.







Don’t Be Charlie Brown – If you are going to decorate for the holidays, put some thought into it. Make sure the scale is correct for the space; the decorations don’t look like an afterthought, or childish.

Do Keep Private Spaces Private – Confine the holiday decor to public spaces, not the bedrooms. If you do extend your holiday décor to the bedrooms, keep it simple & small.

Do Invite Buyers In - Keep the heat up; invite buyers in from the cold to a warm & cozy home. Consider lighting gas fireplaces if you will be home right after a showing.

Play Soothing Music - Most people get their fill of jingles and carols, so if you play music for showings, pick a non-seasonal favorite that appeal year-round.

Many people treat holidays as a serious time of religious observance. Keep in mind that not everyone practices the same religion as you. The more decorating you do, whether the decorating has any religious undertones or not, the greater chance you have of potentially making a buyer feel less welcome. If you want to set out your nativity sets or menorah, consider putting them away during showings or open houses. Afterwards, you can display them again for your family and friends to admire and enjoy.
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11.24.2009

4 Real Estate Ownership Myths

Owning a Home is a Solid Investment”

The recent challenging market has proven the problem with this statement. You can lose money investing in property whether it is for your personal residence or investment property.

Real estate ownership is can be considered “good debt” especially if you have paid down your mortgage and despite the declining market, have equity in your property. But, as many people have learned when selling their homes, the loss in market value of a home can reduce your “investment” significantly. Conversely, during an “up” market many see large increases in value.

For most people, a real estate investment is considered a “long term” investment even if they don’t intend on living in a home for an extended period.

“Distressed Properties Mean Big Profit”

You may buy at a great price, but after adding in the cost of buying, selling, property taxes, and renovation costs (especially the undiscovered problems that crop up) your return on investment is considerably less than you had anticipated.

Added to these concerns, living through a “renovation” requires a high tolerance for chaos, stress, and unusable areas of the house. Or if it is empty during renovation, you incur the cost of the mortgage, taxes, utilities, and landscape chores etc. subtracting from your rate of return.

“You Make All the Decisions”

Of course, you decide when to buy, where and how to pay. You decide how to decorate, upgrade, and landscape. What you have no control over is the condition of the neighborhood or how it changes. Foreclosures, zoning changes, governmental regulations, association rules, negligent neighbors . . . all effect the value of your home.

“You Can Sell When You Choose”

You are personally invested in your property and it is not an easily liquidated interest. You could be stuck in a bad situation longer than you are comfortable with if you find your neighbor is a drug dealer, has the dogs from hell, fixes cars in their spare time, parties heavily on the weekends or just hates you.

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11.23.2009

The Pros and Cons of Paying Cash for a House

If you have the cash on hand to purchase a house, should you?

PROS

No Credit History Required – As long as you have the cash in the bank, no one will question your ability to pay.

Risk Free Savings – If mortgage interest rates are higher than what you get on your investments, you gain by paying cash.

It All Belongs to You - You own the house free and clear. You have also freed up the money you would be paying on mortgage or rent payments to invest in other places.

Negotiating Power – With cash, there is no contingency on getting a loan, so closing can occur in a shorter period of time.

Investment Property – Second homes are considered investment properties and carry with them higher interest rates and penalties. If you are buying a home to fix and sell, it often makes sense to pay cash.

CONS

Less Liquidity – If you have all your liquid assets tied up into a house purchase, its harder to free that money up in the event you need it. If you need to get a mortgage at a later date it is considered a refinance and will carry a higher interest rate.

Tax Advantage – You are not able to take advantage of the deductible on your income taxes. Depending on your tax bracket, this could be a substantial amount.

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11.22.2009

Magic of Birmingham - Holiday Shopping

Enjoy the sights and sounds of Birmingham for the holidays! Stores are open late, plus enjoy Santa House, free carriage rides, carrolers from local schools and more!

Random shoppers will receive FREE GIFTS from Birmingham stores, right on the street.Each Thursday night, one lucky shopper receives a GRAND gift!
On December 10: A jewelry item, courtesy of Astrein's Creative Jewelers. http://www.astreins.com/

On December 17: Two airline tickets good for domestic travel anywhere in the continental United States courtesy of Departure Travel Management. http://www.dtmdeparturetravel.com/

Birmingham broadcast partner WCSX 94.7 and their sponsors will host a warming tent next to Santa House December 10 and 17th, with carolers, family friendly activities from 6-8 p.m. They will provide other exciting enhancements to the event, which will be announced soon.

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Birmingham Holiday Lighting

Where: Steps of City Hall
When: Wednesday, November 25, 6p.m.

Contact: Birmingham Principal Shopping District at 248-530-1200Jump into the Holiday spirit with a night that brings the festive lighting of the winter season and the opening of Santa House! Help Santa and Birmingham Mayor Rackeline Hoff light up the town for the holidays. On-air personality Jim Harper will emcee again this year!

Enjoy live caroling from Greenfield Elementary Honors Choir, festive music from the Birmingham Brass Band, free hot cocoa compliments of Starbucks, and enough holiday spirit to last through the entire season!

Plus: Get a Magic of Birmingham magical preview!
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11.21.2009

Winter Family Fun Activities in Oakland County

Skiing, sledding, hiking or just walking in the dog can be an adventure in Oakland County's many parks. So get outside, enjoy Michgan's winter, and get some exercise for yourself , family & friends.


Click here for more information about the parks that are open, what activities are available & to check conditions of the park when you are planning on going.



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11.20.2009

Real Benefits of Giving to Others

4 Benefits of Giving

Children and adults alike can also benefit from the act of giving to charity.

Allan Luks, author of The Healing Power of Doing Good, describes many scientifically documented accounts of people gaining physical, mental and emotional benefits from doing good. For instance, holding an abandoned baby may help get rid of your backache, he says. Luks even describes a “helper’s high” that is similar to the high we feel after exercising. And, Luks maintains that volunteering provides:

1. A heightened sense of well-being
2. Relief from insomnia
3. A stronger immune system
4. Speedier recovery from surgery

Feel good - volunteer!

What organizations do you volunteer for?

4 Charities That Could Use Your Help

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9 More Charities That Could Use Your Help

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11.19.2009

4 Oakland County MI Charities That Need Your Help

Most of us will have the opportunity to sit around the table this Thanksgiving with family & friends to enjoy their company, abundant good food & perhaps recount our blessings. Many are not so fortunate.

During the holiday season many of us look for ways to help others, ways we can give back to our neighbors, the community & families in need during this joyous season.

Below you will find the 1st of several posts with organizations that could use your help. If you can, give of yourself, your time or money & lend a helping hand to someone in need.




Common Ground: Providing a lifeline for individuals and families in crisis, victims of crime, persons with mental illness, people trying to cope with critical situations and runaway and homeless youths. The core purpose is to empower people to reach their goals. Helping people in need for more than 35 years, Common Ground serves more than 40,000 individuals per year. The majority of services are free of charge and 89 percent of every dollar received goes to direct service. http://www.commongroundhelps.org/

Gleaners Community Food Bank of Southeastern Michigan: The dream was that no one should go hungry while food was going to waste. The idea was to create a distribution network that would provide local non-profit agencies with a low cost, reliable source of food for hungry people. Gleaners is a vital link between available food and those who need it most. Gleaners collects, warehouses, repacks and distributes many millions of pounds of food for over 400 local partners. http://www.gcfb.org/

HAVEN: The only domestic violence and sexual assault center in Oakland County. The safe place when home is no longer safe, the shelter in the storm of a crisis, the source of healing, and the guide to a violence-free life. HAVEN’s mission is to eliminate domestic violence and sexual assault through treatment and prevention services across Oakland County and surrounding communities. http://www.haven-oakland.org/

Capuchin Soup Kitchen: Serving the poor who suffer from the lack of basic human needs: material needs, such as food, clothing, and household necessities; psychological needs, such as motivation, self-esteem, and rehabilitation; and social needs, such as support systems and meaningful relationships. http://www.cskdetroit.org/
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9 More Charities Serving Oakland County MI That Need Your Help!


Grace Centers of Hope Grace Is Oakland County’s oldest and largest homeless shelter providing hope and help since 1942. Today, Grace Centers of Hope is considered one of the leading faith-based organizations in Southeastern Michigan daily confronting issues of homelessness, addiction, poverty and spiritual emptiness. On any given night, Grace Centers of Hope will accommodate between 150-200 men, women and children. Each year we serve over 127,000 meals and provide over 55,000 nights of stay. http://www.gracecentersofhope.org/

Habitat for Humanity Detroit Habitat for Humanity Detroit, in partnership with God and families in need of adequate housing, brings together people from all walks of life to revitalize Detroit neighborhoods through the construction of decent affordable homes. Since 1986, Habitat for Humanity Detroit has helped to house over 220 families in the city of Detroit. http://www.habitatdetroit.org/

Leader Dogs for the Blind Founded by three Detroit area Lions Clubs members in 1939, Leader Dogs for the Blind provides dog guides to people who are blind and visually impaired to enhance their mobility, independence and quality of life. Each year, over 270 students attend our 26-day residential training program to be paired with a dog guide. This is a life-changing event that opens the doors to independence, safety and self-worth for many of our students. Leader Dog is recognized as a “Best In America” Charity by the Independent Charities of America (ICA). http://www.leaderdog.org/

Make-A-Wish Foundation of Michigan Since 1984, the Make-A-Wish Foundation of Michigan has granted wishes to over 5,600 special children in Michigan. Of each dollar spent in FY 2007, more than 80 cents went directly to granting wishes for children with life-threatening medical conditions. Funding comes from individual contributors, special events, corporate donations and sponsorships, foundation grants, workplace giving programs and planned gifts. These wishes would not be realized without the dedication and support of the volunteers, donors, and staff. www.wishmich.org/

Salvation Army The Salvation Army red kettle’s impact extends far beyond the holiday season-changing lives, one at a time, every day, all year long. The scope of The Salvation Army’s influence is vast, touching nearly every segment of society and providing help, hope, and healing for those who come within its sphere. It is at work in more than 113 countries around the world. And although programs vary from country to country and community to community to help people most effectively http://www.usc.salvationarmy.org/usc/www_usc_emi.nsf

Volunteers of America One night in a shelter can provide comfort and security, but one night won't end a man's homelessness. Solving the problem that makes him homeless will. Volunteers of America helps people change their lives for the better. Volunteers of America is unique among humanitarian organizations in that we provide both immediate assistance and long-term solutions that benefit individuals and families. They provide wide range of community-based programs and services for people of all ages. http://www.voa.org/

Yad Ezra Yad Ezra (translated from Hebrew it means "helping hand") provides free kosher food, toiletries and household cleaning items to low-income Jewish families in Southeast Michigan. During 1990, Yad Ezra served an average of 250 families every month. Current statistics indicate that we provide an average of 1,600 impoverished families (almost 3,300 individuals) with food, health care items and household goods every month. Yad Ezra will distribute 800,000 pounds of food, toiletries and household goods this year. www.yadezra.org/

Toys for Tots The objectives of Toys for Tots are to help less fortunate children throughout the United States experience the joy of Christmas; to play an active role in the development of one of our nation’s most valuable resources – our children; to unite all members of local communities in a common cause for three months each year during the annual toy collection and distribution campaign; and to contribute to better communities in the future. http://toysfortots.org/

Michigan Human Society Their Mission: To end companion animal homelessness, to provide the highest quality service and compassion to the animals entrusted to their care, and to be a leader in promoting humane values. They receive no government funding and is not a United Way agency & depends on the generosity of individual and corporate supporters to fund their programs and services. http://www.michiganhumane.org/site/PageServer

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11.18.2009

Royal Oak Holiday Magic Parade

This 8th Annual Parade features musical acts, performances, floats and more from over 55 parade units.

The parade route starts at Washington and Lincoln and heads north on Washington to Fourth, where it then heads west to Lafayette.

New this year is the Santa Scamper before the parade, A Fun Run, through the parade route for kids and families at 9:15am.

After the parade, visits with Santa are from 11am - 1pm at Stagecrafters.

Also new this year, bring a toy to the parade to help less fortunate families in the metro Detroit area. Marines will walk in the parade and collect them from the crowd for Toys for Tots.Parking will be free downtown from 10am - 2pm for guests to the parade!

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