Foreclosure in Michigan?

Question

I own a home in Michigan that is in foreclosure. Is it true that I have up to six months to redeem my property? Does anyone know the answer?

Answer 1

At Advantage Foreclosure Solutions LLC. good, solid decisions are key to our success and to yours.  Below we have provided a list of helpful links that will assist you with additional information and resources related to help you make the best decision possible.

Some of the links in this section will take you to Web sites not owned or operated by Advantage Foreclosure Solutions LLC.. Advantage Foreclosure Solutions LLC. is not responsible for the condition of these links or the information they provide.  If you would like to report an issue with one of these links or the information displayed please contact us at Advantage and we will investigate the issue.

United States foreclosure laws.

Select a state from the map or the list for complete state foreclosure information. Each state foreclosure page includes a summary of your state foreclosure law as well as links to other foreclosure law resources.

Answer 2

I'm not an expert and suggest you seek legal advise and help with this question. To the best of my knowledge, properties under 3 acres have 180 days redemption period. However, there are some ways for banks to get around this.  

This State of Michigan website should answer your questions.

http://www.michigan.gov/mshda/0,1607,7-1...

There have been cases where an out of State lender came and placed a lock on the property thinking it's vacant.  It may be to your advantage to send a letter by certified mail to the banks loss mitigation department informing them you still occupy the home.

Answer 3

This is vague:

http://www.realtytrac.com/foreclosure-la...

In some searching, it would seem the redemption period varies in Michigan.  Check your loan documents.  You don't just have to pay what you owed in arrears, the amount of the default, plus fees has to be paid in full to redeem the property,