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                                                                   EXHIBIT 10.14


                        FIRST AMENDMENT TO LOAN AGREEMENT

         THIS First AMENDMENT TO LOAN AGREEMENT (the "Agreement") is made and
entered into as of June 11, 1999 by and between SUN COMMUNITIES OPERATING
LIMITED PARTNERSHIP, a Michigan limited partnership ("Lender"), whose address is
31700 Middlebelt Road, Suite 145, Farmington Hills, Michigan 48334, and BINGHAM
FINANCIAL SERVICES CORPORATION, a Michigan corporation ("Borrower"), whose
address is 260 East Brown Street, Suite 200, Birmingham, MI 48009.

                                    RECITALS:

         A. Borrower and Lender have entered into that certain Loan Agreement
dated March 1, 1998 (the "Loan Agreement").

         B. Borrower and Lender desire to amend the Loan Agreement in accordance
with the terms and conditions of this Amendment.

         NOW, THEREFORE, the parties agree as follows:

         1. Section 1 of the Loan Agreement is hereby deleted in its entirety
and replaced with the following Section 1:

            "1.  LOAN.  Lender will make the following Loan to Borrower:

<TABLE>
<CAPTION>

         Type of Loan        Interest Rate           Note Amount        Maturity
         ------------        -------------           -----------        --------
         <S>                <C>                     <C>                <C>

         Line of Credit      235 basis  points       $18,000,000        Demand
                             over LIBOR

</TABLE>

              The Loan and any amendments, extensions, renewals, or refinancing
         thereof are subject to this Agreement."

         2.   Section 2 of the Loan Agreement is hereby deleted in its entirety
and replaced with the following Section 2:

                   "2. LINE OF CREDIT DEMAND LOAN. Provided that no Event of
              Default exists and no Event of Default will be caused by any draw
              under the Loan, Lender agrees to loan to Borrower, from time to
              time upon not less than fifteen (15) days written notice to
              Lender, up to the aggregate principal amount of $18,000,000 (the
              "Line of Credit Loan"), in increments at the discretion of Lender.
              Lender's obligation to make any advance to Borrower under the Loan
              and the Note shall automatically suspend upon any earlier
              occurrence of an Event of Default unless and until waived by
              Lender in writing. Lender may, in its sole discretion, refuse to
              make advances or readvances for any reason whatsoever."

         3.   Section 9.E. of the Loan Agreement is hereby deleted in its
entirety and replaced with the following Section 9.E.:

                   "E. "Note" shall mean that certain $18,000,000 demand
               promissory note from Borrower to Lender, in the form attached
               hereto as Exhibit A."

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         4.   Unless otherwise modified by this Amendment, all provisions of the
Loan Agreement shall remain in full force and effect.

         5.   This Amendment may be executed in any number of counterparts, each
of which shall be an original and all of which together shall constitute one and
the same agreement. Facsimile or photographic reproductions of this Amendment
may be made and relied upon to the same extent as though such fax or copy were
an original.

         IN WITNESS WHEREOF, the parties have executed this First Amendment to
Loan Agreement as of the date first written above.


                                    BORROWER:

                                    BINGHAM FINANCIAL SERVICES CORPORATION, a
                                    Michigan corporation


                                    By:
                                        ----------------------------------------

                                    Its:
                                         ---------------------------------------


                                    LENDER:

                                    SUN COMMUNITIES OPERATING LIMITED
                                    PARTNERSHIP, a Michigan limited partnership


                                    By:   Sun Communities, Inc., a Maryland
                                             corporation
                                    Its:     General Partner


                                    By:
                                        ----------------------------------------

                                    Its:
                                         ---------------------------------------

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