ice I have not posted for a while, sorry, the foreclosure crisis continues, but not a lot new to report. We hear about the housing bubble, which we in Michigan missed. But our ...
Category Archives: foreclosure
Buy And Bail Is Back?
Well, here we go again. Buy and bail, where people get approved for a mortgage to buy a new place, even though they still owe for the old one, never left. Changes in
Download PDF Version Mortgage In Foreclosure, Will I Still Owe Money? (part two)
Michigan allows foreclosure of a mortgage by publication, an auction process, or through a lawsuit in a court. If the bank bids the amount you owe at the foreclosure auction, you owe them nothing, no matter what they may get ...
Download PDF Version Wrongful Michigan Foreclosure?
The Detroit Free Press recently published an article about wrongful foreclosure and the taking of personal property from Michigan homes in foreclosure. Unfortunately, the sidebar notes on Michigan foreclosure ...
Download PDF Version After Foreclosure, How Long Can I Stay In My Michigan House?
After a Michigan foreclosure by publication, there is a statutory redemption period. The national average for the whole process is over a year from when payments stop being made before the foreclosure process is complete. Foreclosure is controlled by state ...
Download PDF Version Housing Crisis Means More Foreclosures
Warren Michigan is typical of the real estate market in our state, hard to sell even homes coming out of foreclosure. The Zillow website reports zero, nada, not one, house sold in the last 30 days, out of 1,852 for ...
Download PDF Version Foreclosure Crisis Still Here
Mortgage modification programs thus far not making a dent in foreclosures. The foreclosure crisis continues, though it may not be getting worse, foreclosure numbers are not getting better. Supposedly, 300,000 people have ...
Download PDF Version Strategic Defaults Increase
Default means, not keeping up your side of a contract, like, not making mortgage payments on time, which usually leads to a foreclosure. Strategic default refers to people who can afford ...
Download PDF Version Who Owns My Mortgage?
One problem for homeowners with Michigan foreclosure law is that mortgage companies can foreclose without going to court, by publication in the Legal News. In Florida and other states, foreclosure must be done through the state courts. This allows ...
Download PDF Version Foreclosure Prevention Program Modified Again
HAMP has failed, but the White House has not given up, and announced a new foreclosure prevention program last week. HAMP has resulted in fewer than 200,000 permanent modifications, out ...
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