The League of Women Voters Oakland Area has a Voter Guides web page which covers all the various races and proposals of all Oakland County for the August 7, 2012 election. They do not publish a paper guide for the August election, so to read their information you'll need to view it online.
Here are the parts of that voter guide which pertain to you as a Waterford resident:
U.S. Senator - Statewide
U.S. Representative - Waterford is now entirely in the new 11th Congressional District
State Representative - Waterford is District 43
Oakland County Officers - Countywide (see the links to the six positions on the LOWV voter guides page in the Oakland County Officers section). Read more