This page offers information on consumer economics that can be applied immediately and result in sound financial decisions and practices.

For more information on foreclosure or to sign up for any programs, call 586-469-6430.

To visit the Michigan State Housing Development Authority (MSHDA), click here

Foreclosure:

Home foreclosures have dramatically increased in Macomb County.  The foreclosure process begins after three home payments in a row are missed.  If you have missed a home payment or think you might soon, learn about your options from an unbiased source.  You may be able to save your house or manage the foreclosure so that starting over is less difficult.

Foreclosure Resources:

Foreclosure Timeline

Options for trying to keep the house

Options for trying to sell the house

Options for letting the foreclosure proceed

Community Resources

Lawyer Referrals (Macomb Bar Association)

Legal Aid & Defenders Association

Senior Citizen Legal Assistance Program

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Financial Stress:

Coping with financial stress, whether it is because of a job loss, bad mortgage, illness or divorce, is never easy. Learn how you can improve communication and decision-making within a family when under financial stress.

Financial Stress Resources:

Change is Stressful: How to deal with family, job, and income changes

Coping Strategies for Family Stress

Income Loss: How to Address the Stress and Prioritize your Financial needs for the Family

Sharpening your Financial Survial Skills

Turning Personal Skills into Income

Money Management:

Would you take a trip to a strange city without a map?  If you did get there, you probably wasted a lot of time taking wrong turns.  The same is true with your money.  Without a budget, you have no financial map to guide you.  You will waste time and money.  A written budget is the only way to live within your income and reach your financial goals.  You need a budget to make wise decisions about small and large purchases and to be able to react to unexpected financial challenges.

Money Management Resources:

How much debt can you handle?

Planning for the Future:

Develop a plan for achieving your financial goals. Don't just react to circumstances, have a plan. As part of your plan, include savings. Pay yourself first: You need an emergency fund (at least one month's house payment) and a retirement fund. The sooner you start saving for retirement, the more your money will grow over time.

Planning Resources:

Coming soon!

Responsible Borrowing:

Be a responsible borrower and you will be rewarded in the future with lower interest rates. Borrow only what you can repay. Teach yourself about loans, don't always believe advertising. Shop for a good loan for your car and house. Call around and compare interest rates and terms (length of loan and repayment rules).

Responsible Borrowing Resources:

Coming soon!

Checking your Credit Score:

Check your credit report once a year at tax time. Correct any information that is wrong on the report. Pay old debt to increase your score. Charge purchases only if you can pay the bill. Don't use credit cards to live beyond your means. Limit credit card offers coming to your home, it will reduce temptation and help you stay more organized.

Credit Resources:

Coming soon!

Insurance:

Insurance protects you from going backwards financially.  It is a tool that can protect you from catastrophe.  In the event of an illness, accident, job loss or fire, insurance is what stands between you and losing everything or acquiring massive debt.  It is the foundation for financial stability.

Insurance Resources:

Meeting Families Insurance Needs

Meeting Families Insurance Needs - Automobile Insurance

Meeting Families Insurance Needs - Homeowner's Insurance

Meeting Families Insurance Needs - Health Care Insurance

Meeting Families Insurance Needs - Life Insurance

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