Key Questions:

1. Who are the leading lenders in Bay, Michigan?
   1. The leading lenders, by market share, are Independent Mortgage Co, Jpmorgan Chase Bank, Na and Chemical Bank. Do you have the best rate possible? Find out your credit score or browse
2. How stretched will home owners in Bay, Michigan be in paying off their mortgage?
   1. Homeowners in Bay, Michigan borrowed an average of 1.48 times their annual income for their mortgage. This compares to 1.97 for all of the US. Based on the national average, there will be a normal risk that Bay, Michigan homeowners will default on their mortgage payments in the coming years.
3. How likely are the owners of homes in Bay, Michigan to actually live in them?
   1. 94.2% of home owners in Bay, Michigan that applied for a mortgage in 2008 live in their homes versus owning them as an investment property. This compares to the national average of 90.0%.
4. How at risk is Bay, Michigan to the subprime mortgage crisis?
   1. There were significantly more subprime loans taken out by home owners in Bay, Michigan than the national average in 2008. That is to say, Bay, Michigan will be more affected by the subprime mortgage crisis in years to come as a greater percentage of all mortgages in Bay, Michigan - 6.8% versus 4.8% - will reset to higher rates in 2009. This will mean that there will be more foreclosures caused by the reseting of subprime mortgages in Bay, Michigan than other areas of the US.