Be aware of the foreclosure timeline in Michigan

Michigan foreclosure

This is an actual comment for a client:

”I was in Auto accident in Sept 06 which led to out of pocket expenses. Also I paid for funeral $4,800 in December in which I was not aware that my mom did not have insurance. I thought that I would have gotten my settlement from the accident but it's still going on. I do not want to lose my house and I would like get current. I need help. ”

Can you afford the mortgage payment now? If you can we can get you a workout with the mortgage company and get your current again. You will need to come up with approximately 25 to 30% of the delinquency to get to the mortgage company as a good-faith payment and the remaining portion we can either get added to the in the loan are said to up a repayment plan.

You must be very careful in Michigan as they don't always notify you of the pending sale on your property. Many times people contact us to try to help them avoid or stop the foreclosure and the sheriff’s sale auction has already taken place because there are not aware of the foreclosure timeline. The notification they are receiving now has to due with the redemption. If the house does sell at auction and you are in the redemption period there is very little that can be done. At this stage the only thing that you can do is to get a new mortgage and by the property back from the person who bought it at the auction.