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 They do not publish a paper guide for the August election, so to read their information you'll need to view it online.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).
Oakland County Commissioner Districts - District 4, District 5, and District 6 cover Waterford. Here's a map to help you see what district you're in. The Mivote website can also help you figure out what district you're in if you put in your address and then click on the "+" by "my voting district information".