Riley BOR Filings.pdf
Jonathan Riley Petitioner V City Of Detroit Respondent · 26-001110-TT
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Page 1
Oflicc ol'thc ( hicl Finuncial Olllccr
Office of the Assessor
NOTICE FROM ASSESSORS REVIEW PERJOD
Fcbruary 22, 2026
(-I,ASS:
APPEAI. f
)l-00.144.t
DtsTRt('r'#
RILEY, JONATHAN
5766 TR(IMBLILL 23
DETROIT MI 48208
PARCEL NUMBER:
06006052.006
PROPERTY ADDRESS:
5766 TRUMBULL 23
PRINCIPAL RESIDENCE EXEMPTION: 100.00 %
5
The Detroit Board of Assessors has considered your appeal on the 2026 Assessed and Taxable Value for the above
described property. The results of your appeal are as shown below.
2026
2026
CllAr-Gf, R]:Aso:\:
ASSESSED VALUE
TAXABLE VALUE
BEFORE APPEAL
205,600
205,600
AFTER APPEAL
20s,600
20s,600
ASSESSOR'S REVIEW/DENIED
lf you are dissatisfied with the decision of the Assessors Review, you must request an appeal to the MARCH BOARD OF REVIEW.
Such an appeal must be in writing, stating speciflcally the grounds presenled during lhe Ass€ssors Review period. No other matler in
connection therewith shall be considered by lhe Board of Review.
EmailAddress /,R.9u,11//
Day Time Phonc Numbcr (R...tunL,l)
You may sign, dato, and retum thi3 lettor along with a complotod Petlllon (L{035) to tho March Board ot Roviow al the address bolow,
as your wrlnon r€qugst for an appoal to tho March Board of Roviow. Your roquost for .n appeal must bo fllsd on or beforo tho socgnd
Monday in March [03/09/2026],4:30 p.m. EST, and may not bo flled theroafter.
Roqu.sts to appealto th6 March Bo..d of Reviow can b. .ubmitt.d in 3ev6r.l ways:
(vl. Onllno) http!r/dotroltml.gov/mbor (vla omall:) at IIBoR@dotroltml.gov.
(vir Mail:) Signod and compl.led March Board of Reviow petltion (Form 618-L-4035)to: Board of Roviow, Attn: M.rch Boa.d of Roviow, 2
Woodward Avenue, Sulte 6O/i, Dot.oil, M148226.
(yla Droporf:) at tho drop box locatod out3ldo tho Woodw.rd ontr.nco ot lho Colom.n A- Young Munlclpal Conlo,.
ll an lgont is flllng the .ppoal on bohalf of tho proporty owner, tho authorlzsllon to act as tho agont must bo complotod prior to tho schadulod
2026 March Board o, Review ho.ri
YoUR REOUEST To APPEAL TO THE MARCH BOARD OF REVIEW MUST BE RECEIVED BY MARCH 09. 2026 at 4:30 o.m.
The petition torm approved by the Stale Tax Commission is available at www.michigan.gov/treasury. On the site, click on FORMS (at top of
page), then click on PROPERW TAX, and then click on BOARD OF REVIEW. Each taxpayer is urged to prepare brief remarks, present any
supporting documentation, and the Board of Review petition form (L-4035) to the Board of Review prior to their hearing. Due to the volume of
appellants. time allowed for each taxpayer will be limited.
CITY OF DETROIT
OFFICE OF THE CHIEF FINANCIAL OFFICER . OFFICE OF THE ASSESSOR
ATTN: BOARD OF REVIEW
COLE AN A. YOUNG UNICIPAL CEi{TER . TWO WOODWARD AVENUE, SUITE 8(N
oETROIT, ifl 48226
NOTE: YOU MUST FORWARD A COPY OF THIS LETTER TO YOUR REPRESENTATIVE AND/OR ATTORNEY, IF
YOUR APPEAL WAS HANOLED BY AN AUTHORIZED REPRESENTATIVE OR ATTORNEY.
Tho Ootrolt Board of R€vlow wlll bo conductlng applal hoerlngs at two physlcal locatlons and vidoo contoronco haarlngs onllne
'Online: Zoom video conferencing hearing, March 4th-28th,2026. at 9:00 a.m. on the webr httpsr/cityofdetroit.zoom.us/j/84964354612'
' HEILMANN RECREATION CENTER, 19601 Brock Ave.. Dstroit. Ml 48205 '
Hearings are scheduled for the following dates and times: March 16th-281h,2026, beginning at 9:00 a.m
Colcman A. Young Municipal Ccntcr
Tu'o Woodward Avcnuc. Suite 804
Detroit, Michigan 48226
{07 (RESIDENTIAI- CONDOIUTN r trNrS)
Taxpayer SiBnalure lo Apo{.al (Rrquir.d)
'CROWELL RECREATION CENTER, 16630 Lasher Rd., Detroit, M148219'
Hearings are scheduled for the following dates and times: March 4th-14th, 2026, beginning at 9:00 a.m.Page 2
LETTER OF AUTHORIZATION To the Assessor, Board of Assessors and Board of Review for City of Detroit. This is to advise that Aaron Fales of the Law Office of Aaron M. Fales, P.C. is authorized to represent the undersigned property owner or party in interest in connection with any appeal to the assessor, Board of Assessors, Board of Review, Tax Tribunal and any other courts for the following property owned, leased, or used by it or its subsidiaries, or for which any related entity is responsible for, or bears the burden of property taxes including the property listed herein. This authorization is in effect until revoked in writing. Taxpayer Name: Jonathan Riley Property Address(es): 5766 Trumbull 23, Detroit, MI Parcel #: 06006052.006 Respectfully submitted, By: Ohl 03/09/2026 Jonathan Riley Dated: March _9 , 2026 ACTIVE.8878359.1
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-— Petition to Board of Review L-4035 This form is issued under the authority of PA. 206 of 1893, as amended. Filing is volunta ichi i | A. : ry; however, you may not appeal to the Michigan Tax Tribunal unless you first protest to the Board of Review, except when the property is classified as commercial real industrial real, or deval cat 4 do & ji 5 lopmental real. You not | i Tax Commission uniess you first protest to the Board of Review, ? NRVC SRRRSpmp eng Cesslication bite Slats Michigan Department of Treasury 618 (Rev. 12-25) TO BE COMPLETED BY OWNER OR OWNER’S AGENT Owner's Name (Please Print or Type) Jonathan Riley Petitioner's Name (If Other than Owner, Please Print or Type) Law Office of Aaron Fales, P.C. Township or City County Year of Appeal Detroit Wayne 2026 The undersigned protests the assessed value and/or the tentative taxable value and/or the property classification and/or the qualified agricultural property exemption of the following described property: Property Identified (Parcel code required. Property address and legal description optional.) 06006052.006 5766 Trumbull 23 Protested Item: Assessed Value Flrentatve El] Taxable Status [| Classification = Qualified Agricultural Taxable Value (exemption) Property Exemption 1, PROTEST OF ASSESSMENT Complete this section for a protest of assessed value, including assessed value changes associated with exempt status and denied or late filed personal property forms. Assessed Value Owner's Estimate of True Cash Value (Market Value) $205,600 $215,000 2. PROTEST OF TAXABLE VALUE Complete this section for a protest of Taxable Value. Reason: IN) Value of Losses J Value of Additions 7 Poverty Exemption [54] Uncapping % 3. PROTEST OF CLASSIFICATION Complete this section for a request to change the classification. The Board of Review must make their decision regarding classification in accordance with Section 211.34c of the Michigan Compiled Laws. The Board of Review shall not be influenced by the effect that a particular classification has on that property's status as a homeowner's principal residence or qualified agricultural property.) Classification of property on this year's assessment roll Classification should be (check one of the following): ] Agricultural [] Industrial [5 Timber Cutover [] tility (Personal Property Only) J Commercial OJ Residential Ol Developmental 4. PROTEST OF EXEMPTION FOR QUALIFIED AGRICULTURAL PROPERTY If the assessor has denied or changed the percentage of the exemption from the 18 mills of local school operating tax for qualified agricultural proper- ty, the owner may appeal this action to the March Board of Review. THE BOARD OF REVIEW HAS NO AUTHORITY TO CONSIDER OR ACT UPON THE EXEMPTION FROM THE 18 SCHOOL OPERATING MILLS FOR HOMEOWNER'S PRINCIPAL RESIDENCE PROPERTIES.) Percent qualified agricultural exemption granted by assessor (Enter 0 if exemption Percent qualified agricultural exemption requested by owner (Enter 100 if full denied) exemption requested) REASON FOR PROTEST State reason(s) for protest of assessed value and/or the tentative taxable value and/or taxable status and/or classification and/or qualified agricultural property exemption Purchased for $215,000. CERTIFICATION — Signature Date Phone Number ll Es 3/6/26 (248) 767-0840 Address Binion AMF LAW - 330 Hamilton Row, Suite 350, Birmingham, MI 48009
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618, Page 2 FOR BOARD OF REVIEW USE ONLY INSTRUCTIONS: Incorporate a copy of this form and the assigned number in the Board of Review minutes Petition Number Parcel Code 1. ASSESSED VALUE Disposition by Board of Review, The Board of Review must state the reason for its action below. [J Denied 7 Assessed Value Changed From i. ] to | i Record of Vote — Board or three-member committes of board Chairperson: lL] Yes ] No Member: J Yes I=! No Member: [5] Yes =i No Initials Initials Initials Reason for Board Actions If you disagree with the decision of the Board of Review regarding tentative assessed value, you may appeal that decision by filing a petition with the Michigan Tax Tribunal at PO Box 30232, Lansing, MI 48909. Commercial Real, Industrial Real, Developmental Real, Commercial Personal, Industrial Personal and Utility Personal Property may be appealed by May 31. Agricultural Real, Residential Real, Timber-Cutover Real and Agricultural Personal Property may be appealed by July 31. The petition must be filed on a Michigan Tax Tribunal form or a form approved by the Michigan Tax Tribunal. Michigan Tax Tribunal forms are available at ichigan. ib. 2. TENTATIVE TAXABLE VALUE Disposition by Board of Review. The Board of Review must state the reason for its action below [l Denied ] Tentative Taxable Value Changed From to (See attached L-4035A) Record of Vote — Board or three-member committee of board Chairperson: Yes 1 No Member: | Yes 7] No Member: OJ Yes Ol No Initials Initials Initials Reason for Board Action 3. CLASSIFICATION Disposition by Board of Review. The Board of Review must state the reason for its action below. J Denied [J] Classification Changed From to Record of Vote — Board or three-member committee of board Chairperson: ] Yes ] No Member: i Yes iE No Member: El Yes ] No Initials Initials Initials Reason for Board Action If you disagree with the decision of the Board of Review regarding classification, you may appeal by sending Form 2167 to the State Tax Commission at PO Box 30471, Lansing MI 48908, by June 30. 4. QUALIFIED AGRICULTURAL PROPERTY EXEMPTION Disposition by Board of Review. The Board of Review must state the reason for its action below. | Exemption Request Denied ] Exemption percent modified from % to % Record of Vote — Board or three-member committee of board Chairperson: ] Yes 1] No Member: [7] Yes Je] No Member: Yes [7] No Initials Initials Initials Reason for Board Action If you disagree with the decision of the Board of Review regarding qualified agricultural property exemption, you may appeal that decision by filing a petition with the Michigan Tax Tribunal at PO Box 30232, Lansing MI 48909 by July 31. The petition must be filed on a Michigan Tax Tribunal form or a form approved by the Michigan Tax Tribunal. Michigan Tax Tribunal forms are available at www.michigan.gov/taxirib. 5. ADJOURNMENT Date of Final Adjournment of Board of Review Board of Review Secretary Signature Date
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Michigan 1019 (Rey, SPartment 11.23) F Treasury, THIS |g Notic ing a of Assessment, Taxable vay, Mm is issueq under the authori mode] } assessment fiotice to be used by the log a) F 2 CITY OF DETROIT fg OFFICE OF THE ASSESSOR 2 WOODWARD AVE, SUITE 804 DETROIT, MI 48226 ty of PA. 5, on, and Property Classification 893, Sec. 211.24 (c) and Sec.211.34c, as amended. This is i E PARCEL IDENTIFICATION PARCEL NUMBER: 06006052.006 PROPERTY ADDRESS: 5766 TRUMBULL 23 NAMED ON ASSESSMENT ROLL 476007002657 0912 tego Peo log ph OE 8 JONATHAN RILEY 5766 TRUMBULL ST # 23 DETROIT, Mi 48208-1776 LEGAL D PTION: E TRUMBI ESCRI ULLUNIT 33; P13-106 DEEDS, WCR 6/208 2.56% NAME AND ADDRESS OF OWNER OR PERSON. PRINCIPAL RESIDENCE EXEMPTION % Exempt As "Homeowners Principal Residence": 100.0000% % Exempt As "Qualified Agricultural Property”: 0.0000% % Exempt As "MBT Industrial Personal”: 0.0000% k % Exempt As "MBT Commercial Personal”: 0.0000% k |Exempt As "Qualified Forest Property”: = Yee X No | Exempt As "Development Property": — Yes X No CONDO SUB PLAN NO 865 "RESEARCH LOFTS" REC LA3201 ACCORDING TO MCL 211.34c THIS PROPERTY IS CLASSIHED AS: RESIDENTIAL CONDOMINIUMS PRIOR YEAR'S CLASSIFICATION: RESIDENTIAL CON DOM i UMS CURRENT The change in taxable value will inereane/ doe ) PRIOR AMOUNT : CHANGE FROM | sur tax hill for thi J-approxi SL fs YEAR: Co © TAXABLE VALUE (Current amount is tentati 188,673 205,600 16,927 2. ASSESSED VALUE: 214,800 205,600 =a 3. TENTATIVE EQUALIZATION FACTOR: AEE. TET 4. STATE EQUALIZED VALUE (SEV): 214,800 205,600 -5,200 5. There WAS/WAS NOT a transfer of ownershig on this property in 2025 WAS 6. ASSESSOR CHANGE REASON: MARKET V, 7. ESTIMATED TRUE CASH VALUE (MARKET VALUE); 411,184 S.EFFECTVEAGE: SS ~~ 8 9. YEAR BUILT: 1920 | The 2026 inflation Rate Multiplier is; 1,027 Questions regarding the Notice to the following: Name: Office of the Assessor March Board of Review Appeal Infor ation, T} March 4th, Sth, 6th, and 7th, 2026, from 9:00 5. March 9th, 10th, 11th, 13th and 14th, 2026, fron March 16th, 17th, 18th, 19th, 20th and 21st, March 23rd, 24th, 25th, 27th and 28th, 202, March 12th and March 26th, 2026, from 9:00a i». ; . be directed of Assessment, Takable Valuation, and Property Classification may be ==ITelephone Number: [emo Sof Review will meet at Emall Address: AsktheAssessor@detroitmi.gov the following dates and times: 313-224-3035 ¢ :30 p.m. m. & 1:00 p.m. to 4 : to 4:30 p.m. 12:00 p.m. & 1:00 p.m. ER m. to 12:00 p.m. & 1:00 p.m. to 4:30 p.m. 00 p.m. to 4:30 p.m. mL £ 6:00 p.m. 09:00 2:00 p:
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Closing Disclosure This form is a statement of final loan terms and closing costs. Compare this document with your Loan Estimate. Closing Information Transaction Information Loan Information Date Issued 7/11/2025 Borrower Jonathan Riley LoanTerm 30 years Closing Date 7/14/2025 729 Pingree St Purpose pyrchase Disbursement Date 7/14/2025 Detroit, MI 48202 Product Fixed Rate Settlement Agent Hillside Title Agency, LLC ~ Seller Secretary of Vetrans Affairs File # 55-101707-614 PLEASE PROVIDE Loan Type Conventional [JFHA Property 5766 Trumbull St Unit 23 ava oO Detroit, MI 48208 Lender Staunton Financial, Inc. LoanID# 2550968 Sale Price $215,000 MIC # 73249465 oan Te Can this amount increase after closing? Loan Amount $204,250 NO Interest Rate 6.99 % NO Monthly Principal & Interest $1,357.51 NO See Projected Payments below for your Estimated Total Monthly Payment Does the loan have these features? Prepayment Penalty NO Balloon Payment NO Projected Payments Payment Calculation Years 1-12 Years 13-30 Principal & Interest $1,357.51 $1,357.51 Mortgage Insurance + 7149 = Estimated Escrow #* 841.62 841.62 Amount can increase over time Estimated Total Monthly Payment $2,270.62 $2,199.13 This estimate includes In escrow? Estimated Taxes, Insurance Property Taxes YES & Assessments $1,236.62 Homeowner's Insurance YES Amount can increase over time Monthly Other: Homeowners Association Dues NO See page 4 for details See Escrow Account on page 4 for details. You must pay for other property costs separately. Costs at Closing Closing Costs $10,090.07 Includes $3,925.55 in Loan Costs + $6,164.52 in Other Costs - $0 in Lender Credits. See page 2 for details. Cash to Close $4,282.10 Includes Closing Costs. See Calculating Cash to Close on page 3 for details. CLOSING DISCLOSURE + GTRIDCDWS_S 0617 pi LE te [kine Page 1 of 5- LOAN ID # 2559968 GTRIDCDWSS (CLS)
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Closing Cost Details Borrower-Paid Seller-Paid Paid by. At Closing Before Closing | At Closing Before Closing Others A. Origination Charges $1,419.00 01 % of Loan Amount (Points) 02 Processing Fees $765.00 03 Underwriting Fees $654.00 04 05 06 07 08 B. Services Borrower Did Not Shop For $2,471.55 01 Appraisal Fee to Appraisal Scout $525.00 02 Credit Report to Xactus $90.50 03 Flood Certification to CoreLogic $6.00 04 Tax Service to Servicer $80.00 05 Title - Closing Fee to Hillside Title Agency, LLC $595.00 06 Title - Closing/Escrow Fee to Capital Title - 55 $195.00 07 Title - Lender's Title Insurance to Hillside Title Agency, LLC $955.05 08 Title - Wire/Courier Fee to Capital Title - 55 $25.00 09 10 C. Services Borrower Did Shop For $35.00 01 Title - Recording Service Fee to ASK. Services, Inc. $35.00 02 03 04 05 06 07 08 D. TOTAL LOAN COSTS (Borrower-Paid) $3,925.55 Loan Costs Subtotals (A +B + C) $3,400.55] $525.00 E. Taxes and Other Government Fees $80.00 01 Recording Fees Deed: $2300 Mortgage: $57.00 $80.00 02 F. Prepaids $1,589.81 01 Homeowner's Insurance Premium (12 mo.) to Allstate Vehicle and Property $875.93 02 Mortgage Insurance Premium ( mo.) 03 Prepaid Interest ( $39.66 per day from 7/14/25 to 8/1/25) $713.88 04 Property Taxes ( mo.) 05 Property Tax (12 mo.) to City of Taylor for 2025 Summer Tax $13,900.04 G. Initial Escrow Payment at Closing $2,524.86 01 Homeowner's Insurance ~~ $72.99 per month for 3 mo. $218.97 02 Mortgage Insurance per month for mo. 03 Property Taxes $76.59 per month for 10 mo. $765.90 04 City Property Tax $692.04 per month for 3 mo. $2,076.12 05 06 07 08 Aggregate Adjustment -$536.13 H. Other $1,969.85 01 Real Estate Buyer's Broker Processing Feeto Max Broock - 28 $495.00 02 Title - Owner's Title Insurance (optional) to Capital Title - Birmingham $1,474.85 03 04 05 08 07 08 I. TOTAL OTHER COSTS (Borrower-Paid) $6,164.52 Other Costs Subtotals (E+ F + G + H) $5,288.59] $875.93 | | J. TOTAL CLOSING COSTS (Borrower-Paid) $10,090.07 Closing Costs Subtotals (D +) $8,689.14 $1,400.93 $13,900.04 Lender Credits CLOSING DISCLOSURE + GTRIDCDWS_S 0617 Page 2 of 5 - LOAN ID # 2559968 GTRIDCDWSS (CLS)
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Use this table to see what has changed from your Loan Estimate. Total Closing Costs (J) Closing Costs Paid Before Closing Closing Costs Financed (Paid from your Loan Amount) Down Payment/Funds from Borrower Loan Estimate Final Did this change? $26,379.00 $10,090.07 YES -See Total Loan Costs (D) and Total Other Costs (1). $0 -$140093 | YES You paid these Closing Costs before closing. $0 $0| NO $10,750.00 $10,750.00 | NO Deposit -$5,000.00 -$5,000.00 | NO Funds for Borrower $0 $0| NO Seller Credits -$6,450.00 $6,450.00 | NO Adjustments and Other Credits $0 $3,707.04 | YES - See details in Section K and Section L. Cash to Close $25,679.00 $4,282.10 Summaries of Transactions Use this table to see a summary of your transaction. BORROWER'S TRANSACTION SELLER’S TRANSACTION K. Due from Borrower at Closing $237,982.10 M. Due to Seller at Closing $215,000.00 01 Sale Price of Property $215,000.00 01 Sale Price of Property $215,000.00 02 Sale Price of Any Personal Property Included in Sale 02 Sale Price of Any Personal Property Included in Sale 03 Closing Costs Paid at Closing (J) $8,689.14 03 04 04 Adjustments 05 05 06 06 07 07 08 Adjustments for Items Paid by Seller in Advance Adjustments for Items Paid by Seller in Advance 08 City/Town Taxes 07/14/25 to 06/30/26 $13,404.97 09 City/Town Taxes to 09 CountyTaxes 07/14/25 to 11/30/25 $658.64 10 County Taxes to 10 Assessments to 11 Assessments to 11 Association Dues 07/14/2025 - 07/31/2025 $229.35 12 12 13 13 14 14 15 15 16 L. Paid Already by or on Behalf of Borrower at Closing $233,700.00 N. Due from Seller at Closing $20,350.04 01 Deposit $5,000.00 071 Excess Deposit 02 Loan Amount $204,250.00 02 Closing Costs Paid at Closing (J) $13,900.04 03 Existing Loan(s) Assumed or Taken Subject to 03 Existing Loan(s) Assumed or Taken Subject to 04 04 Payoff of First Mortgage Loan 05 Seller Credit $6,450.00 05 Payoff of Second Mortgage Loan Other Credits 06 U6 Gift from David Riley $18,000.00 07 07 08 Seller Credit $6,450.00 Adjustments 09 08 09 10 1 Adjustments for Items Unpaid by Seller 10 1 12 13 Adjustments for Items Unpaid by Seller 12 City/Town Taxes to 14 City/Town Taxes to 13 County Taxes to 15 County Taxes to 14 Assessments to 16 Assessments to 15 17 16 18 17 19 CALCULATION CALCULATION Total Due from Borrower at Closing (K) $237,982.10 Total Due to Seller at Closing (M) $215,000.00 Total Paid Already by or on Behalf of Borrower at Closing (L) -$233,700.00 Total Due from Seller at Closing (N) -$20,350.04 CashtoClose [XI From []To Borrower $4,282.10 Cash [] From [X] To Seller $194,649.96 CLOSING DISCLOSURE + GTRIDCDWS_S 0617 oi HE LE F Page 3 of 5- LOAN ID # 2559968 GTRIDCDWSS (CLS)
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Additional Information About This Loan Loan Disclosures Assumption If you sell or transfer this property to another person, your lender O will allow, under certain conditions, this person to assume this loan on the original terms. will not allow assumption of this loan on the original terms. Demand Feature Your loan [I has a demand feature, which permits your lender to require early repayment of the loan. You should review your note for details. does not have a demand feature. Late Payment If your payment is more than 75 days late, your lender will charge a late fee of 5% of the principal and interest overdue. Negative Amortization (Increase in Loan Amount) Under your loan terms, you [J are scheduled to make monthly payments that do not pay all of the interest due that month. As a result, your loan amount will increase (negatively amortize), and your loan amount will likely become larger than your original loan amount. Increases in your loan amount lower the equity you have in this property. [J may have monthly payments that do not pay all of the interest due that month. If you do, your loan amount will increase (negatively amortize), and, as a result, your loan amount may become larger than your original loan amount. Increases in your loan amount lower the equity you have in this property. do not have a negative amortization feature. Partial Payments Your lender [J may accept payments that are less than the full amount due (partial payments) and apply them to your loan. [J may hold them in a separate account until you pay the rest of the payment, and then apply the full payment to your loan. does not accept any partial payments. If this loan is sold, your new lender may have a different policy. Security Interest You are granting a security interest in 5766 Trumbull St Unit 23, Detroit, MI 48208 You may lose this property if you do not make your payments or satisfy other obligations for this loan. CLOSING DISCLOSURE + GTRIDCOWS_S 0617 LS: Fd [iE [Cl Escrow Account For now, your loan will have an escrow account (also called an “impound” or “trust” account) to pay the property costs listed below. Without an escrow account, you would pay them directly, possibly in one or two large payments a year. Your lender may be liable for penalties and interest for failing to make a payment. Escrow Escrowed $10,057.32 Estimated total amount over year 1 for Property Costs 957. your escrowed property costs: over Year 1 See attached page for additional information Non-Escrowed $4,740.00 Estimated total amount over year 1 Property Costs for your non-escrowed property costs: over Year 1 HOA Dues You may have other property costs. Initial Escrow $2,524.86 A cushion for the escrow account you Payment 77 pay at closing. See Section G on page 2. Monthly $913.11 | The amount included in your total Escrow Payment monthly payment. [J will not have an escrow account because [1 you declined it [1 your lender does not offer one. You must directly pay your property costs, such as taxes and homeowner's insurance. Contact your lender to ask if your loan can have an escrow account. No Escrow Estimated Estimated total amount over year 1. You Property Costs must pay these costs directly, possibly over Year 1 in one or two large payments a year. Escrow Waiver Fee In the future, Your property costs may change and, as a result, your escrow pay- ment may change. You may be able to cancel your escrow account, but if you do, you must pay your property costs directly. If you fail to pay your property taxes, your state or local government may (1) impose fines and penalties or (2) place a tax lien on this property. If you fail to pay any of your property costs, your lender may (1) add the amounts to your loan balance, (2) add an escrow account to your loan, or (3) require you to pay for property insurance that the lender buys on your behalf, which likely would cost more and provide fewer benefits than what you could buy on your own. Page 4 of 5 -LOAN ID # 2559968 GTRIDCDWSS (CLS)
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Loan Calculations Total of Payments. Total you will have paid after you make all payments of principal, interest, mortgage insurance, and loan costs, as scheduled. $502,669.44 Finance Charge. The dollar amount the loan will cost you. $296,848.89 Amount Financed. The loan amount available after $201,181.12 paying your upfront finance charge. Annual Percentage Rate (APR). Your costs over the loan term expressed as a rate. This is not your interest rate. 7.465% Total Interest Percentage (TIP). The total amount of interest that you will pay over the loan term as a percentage of your loan amount. 139.616 % Questions? If you have questions about the loan terms or costs on this form, use the contact information below. To get more information or make a complaint, contact the Consumer Financial Protection Bureau at www.consumerfinance.gov/mortgage-closing Contact Information Other Disclosures Appraisal If the property was appraised for your loan, your lender is required to give you a copy at no additional cost at least 3 days before closing. If you have not yet received it, please contact your lender at the information listed below. Contract Details See your note and security instrument for information about + what happens if you fail to make your payments, + what is a default on the loan, + situations in which your lender can require early repayment of loan, and + the rules for making payments before they are due. Liability after Foreclosure If your lender forecloses on this property and the foreclosure does not cover the amount of unpaid balance on this loan, state law may protect you from liability for the unpaid balance. If you refinance or take on any additional debt on this property, you may lose this protection and have to pay any debt remaining even after foreclosure. You may want to consult a lawyer for more information. [1 state law does not protect you from liability for the unpaid balance. Refinance Refinancing this loan will depend on your future financial situation, the property value, and market conditions. You may not be able to refinance this loan. Tax Deductions If you borrow more than this property is worth, the interest on the loan amount above this property's fair market value is not deductible from your federal income taxes. You should consult a tax advisor for more information. Lender Mortgage Broker Name Staunton Financial, Inc. dba John Adams Mortgage Address 26261 Evergreen Rd. Ste. 510 Southfield, MI 48076 NMLS ID 140012 Mi License ID Contact Troy Ryan Bergman Contact NMLS ID 140061 Contact Ml License ID Email teambergman@ johnadamsmortgage. com Phone 248-283-8500 Confirm Receipt Real Estate Broker | Real Estate Broker ®) (8) Settlement Agent Max Broock - 28 Elegant Homes Realty Capital Title - Birmingham 26236 Woodward Ave | 6053 Chase Rd 255 S Old Woodward Royal Oak, MI 48067 Dearborn, MI 48126 Birmingham, MI 48009 6505307912 6505365322 0018573 Justin Bercheny Mansour Hammoud Christina Robinson 6501428155 6502365323 justindoesrealestate@ | mannyhammoud@ birminghamclosing@ gmail.com yahoo.com capitaltitle.net 248-644-6700 313-581-3800 248-283-8900 By signing, you are only confirming that you have received this form. You do not have to accept this loan because you have signed or received this form. Jonathan Riley Date CLOSING DISCLOSURE + GTRIDCDWS_S 0617 Ls bE KEE Page 5 of 5 - LOAN ID # 2559968 GTRIDCDWSS (CLS)
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Addendum to Closing Disclosure This form is a continued statement of final loan terms and closing costs. Additional Information About This Loan Loan Disclosures Escrow Account Escrow. Escrowed $10,957.32 | Estimated total amount over year 1 for your escrowed property costs: Property Costs Property Taxes, Homeowner's Insurance, Mortgage insurance, City Property Tax over Year 1 CLOSING DISCLOSURE + GTRIDCDWS_S 0617 . 1 p LOAN ID #2559968 GTRIDCDWSS (CLS)