Resources for Michigan Foreclosure

Recent Michigan Foreclosure News

07/05/2009

Michigan Foreclosure Answers

Resolved Question: BK7 & Foreclosure in Michigan?

My bankruptcy7 was final 6/16/09.I included everyone. Countrywide got a stay in the BK7. Now they are procceding in foreclosure Through Trott & Trott. They were included in the BK7. I haven't paid anything. How long do I have to move out and how will this affect my credit as it was included in the BK7? more

Resolved Question: How can I stop a checking account garnishment when I have filed for bankruptcy?

I live in Michigan & recently went through a divorce, foreclosure, and was laid off at work. For the past year, I have been unemployed & then am currently temping. My ex-husband declared bankruptcy and basically, our second mortgage wasn't foreclosed on (it was a different bank than the first mortgage) and that entire balance is now my responsibility. It's over $35,000. I was served last summer and then in Feb 2009 my MI State Income Tax refund was garnished. Now, I received a writ of garnishment from the court and it was sent to me FROM my old credit union. THEY were served with papers on 6-18-09 and thankgod, the account was CLOSED so they could not pull money from the account. I am fearful that now, they will get to my CURRENT bank & possibly my staffing company where I work. I checked my current bank acct. and there is still a positive balance but what should I do? Close this account? NOTE: I secured a bankruptcy attorney and paid in full within the first week. I was given a first draft and returned that to them over 3 weeks ago. I am awaiting a SECOND draft. It has not yet been filed with the courts. Am I not protected yet? Any advice would be appreciated. Thanks in advance more

Resolved Question: if you go foreclosure in Michigan, do you quit your payment on a home equity loan also and what happens?

Resolved Question: Does buying a home "cash" allow for a lower approved bid?

Hi, I'm looking at buying a home cash and the home is up for sale for $77,000. It is in foreclosure and has been that way for 1 year. The home is not torn apart or anything from the people that lost it. But I only have $65000. If I offer all that as a bid on the house would they take it or is the fact it is in "cash" not matter? I live in michigan if that matters. more

Voting Question: How long do I usually have after court summons for foreclosure?

How long do I usually have after court summons for foreclosure? I have been summoned to court on the 17 of June for my foreclosure hearings how long does the judge usually give to vacate the premises in michigan? I already have had my six months to re-purchase my house. more

Voting Question: What are the steps to foreclosure in Michigan (Detroit area)?

Unfortunately I've run into some problems with my house. My job has recently cut my hours tremendously, to the point where I can't make my monthly payments. I cant sell the house, because my mortgage was more than the house is worth. I might have to face foreclosure or a short sale. What is the process to both, and where can go from here? Thanks more

Resolved Question: bank sent our mortgage to attorneys to start forclosure proceedings. What are our options?

I live in Michigan & have been out of work since January & have been unable to pay my mortgage. During this time I have been in constant communication with my lender (Citimortgage) about my status. I was told that they were unable to provide any assistance to me until I had more income. I have just accepted a new job and will begin working next week. This morning I called Citimortgage to inform them of my new employment and to make arrangements to pay my delinquent payments. I was told that as of today, they have sent my account to an attorney to begin foreclosure proceedings. I spoke to the attorney's office today & they have yet to receive it. My questions are: What are my options now that the account has been turned over to an attorney? Does this mean that the bank is not interested in keeping me in my home? If you have experienced this, could you share your experience? more

Resolved Question: What happens if I rent a home that is being foreclosed? in Michigan?

Hi I just rented a home in Michigan as I was moveing my stuff in the new place a neighbor came and told me that she used to live there and that she moved out because the house is being foreclosed then later another neighbor came and told me that he just put in a cash offer on the house because it is for sale by the bank and that in about a week a sheriff would be there throwing my stuff in the street. I called the rental agency that belongs to the sister of the (owner) of the house and she said that it is not true that the house is not being foreclosed I checked online and I did not find anything saying that the house is in foreclosure I do not know what to do. Can they really throw me out? What can I do? HELP!!!! I have 3 kids including an infant. I dont know what to do!!!!If the house is foreclosed what if the house was already foreclosed before I signed the lease? Because I just signed the lease last friday. more

Resolved Question: Where can I find foreclosure and unemployment data on MI for the past 10-20 years?

I am doing a school project on Mathematical Modeling. I want to do one on Michigan Foreclosures and Unemployment. I want to show the close correleation between the two (if any). more

Voting Question: Transfer of title and property taxes in Michigan?

The home is in Michigan. It is a foreclosure. The State Equalized Value is $69,300. The State Assessed Value is $69,300. The State Taxable Value is also $69,000. The yearly taxes are around $2,300 (100% homestead). Now, I am buying the home for $60,000. The Assessed Value and SEV are supposedly 50% of fair market price, of what I pay for the home. (The home sold in 2004 for $130,000. Is that where they are getting the approx. half plus inflation for $69,300?) My question is: upon transfer of the title, will the property's SEV and Taxable Value automatically be half of the purchase price ($30,000) for the next year, or will I need to appeal the taxes? I know I can appeal the taxes by finding comparable properties in the area, but how does transfer of title and actual selling price factor in? Thanks so much for helping! more

Resolved Question: Question about transfer of title, taxable value etc...Michigan?

Resolved Question: Foreclosure and a Second Home?

Foreclosure and a Second Home - State of Michigan I have a mortgage fixed rate with a balance of 115000.I am currently laid off temporarily but am expecting much more layoff time.I am just starting to have trouble(no lates)with my mortgage payment,Was told by a loan officer that he could not refinance me but based on the info i gave him even floating my other loan i could qualify for a loan for a new home.If i buy another home and let the other loan go into foreclosure can they sieze my new home? Garnish my wages? Sieze my bank accounts or future bank accounts?My wife is not on the actual promise to repay but is listed as an occupant she signed some papers for that but nothing as far as finances go.Can they go after her?Destroy her credit?Even though she is not on promise to repay?Since i know my situation is going to get worse i am trying to move proactively relative to MY finances as in buy while its cheap and stay where its cheap more

Resolved Question: I am losing my house to foreclosure,i live in michigan?

i am layed off from work again,,, does any one know what my out come will be, bad credit,i know that. but i dont know what else.??????? more

Resolved Question: Should I foreclose on my home?

I purchased a home 7 years ago in the metro-Detroit area which, unlike much of the US, shows absolutely no signs of bouncing back because of the flailing auto industry and the ripple effect tied to that. Even with a renter, this depreciating asset is costing me about $10,000/year (not including annual depreciation). I considered a short-sale, but I've been told that this can be a very complicated process, involving a significant cost and, when it's all said and done, it will hurt my credit almost as much as foreclosure. I realize that neither option is a walk in the park, but I'm trying to better understand whether I'd be smarter to just foreclose, take the hit on my credit, and save myself money, time and headaches. Again, this property is in metro-Detroit, so please don't bother to suggest that the area will rebound... that area isn't coming back for at least 10 more years and I don't want to keep the property for nearly that long. So, if anyone has had experience with foreclosure recently (or short-sales) or, better yet, if you're a professional and know these specifics more intimately, then please tell me your thoughts/experiences. As info - I have since purchased a home (3 yrs ago) outside of Michigan, which is my primary residence. Any knowledge of the bank coming after my primary residence (via a lein) or any other assets (401k, savings accounts, etc.) is appreciated, as I've got to take everything into consideration here. Thanks in advance! more

Resolved Question: Legal issues regarding realtors?

Hi the house I rent is up for sale (the landlord went into foreclosure) and is now owned by the bank. About the same time all the inspectors from the bank were doing walk throughs a woman came over to take pictures. She informed me that she was taking them "for the bank", about a month later I find out that she worked for the realtor. Well when I went on the realtor's website I find that all the inside pictures she took are now posted on their website, including my bedroom! I immediately contacted the realtor and they assurred me the pics were coming down immediately. A few weeks later I check again and they are still up! I call back, they say that they need to get in touch with whoever takes care of the website. Few more weeks go by, pictures are still up, I send an email giving them 24 hours to pull down pictures or I seek Legal advice. I was sent back an email stating that my computer must be storing them on my "cache" so it is just my computer not their website. So I had a friend pull the website up at her house and she can see all my stuff plain as day. I'm in Michigan and I know this falls under privacy laws somewhere, but I cannot seem to find any written law on this. Anyone in the legal field able to help me on this? (I actually do not have the money to go to a lawyer). Please cite where your info came from. more

Resolved Question: Foreclosure consequences on my rental property in Michigan?

I moved to Oregon 3 years ago. My home in Michigan never sold. The rent income has been below my mortgage the entire 3 years. I can no longer afford the mortgage and my renter is moving out in 1 month. I am considering letting the bank foreclose on the house since I can't refinance and can't afford to pay someone to manage the property for me. I have a 80/20 split loan thru Countrywide (now B of A) I know that the lenders can come after you and there are tax consequences but...the house is valued at $63,000 and I owe $63,000 on it. Any idea how much I may be penalized or responsible for if they foreclose? This is SO stressfull. Any help is appreciated. more

Resolved Question: What is the typical amount of closing costs a bank-owned home that is $60,000?

I put a full asking price offer down on a foreclosure going for $60,000, and asked the seller to pay 4% closing costs ($2,400). How much do you think I will have to pay in closing costs? I live in Michigan, if it makes a difference. Thank you much! more

Resolved Question: living in rural michigan, minnesota and ohio?

i want to own some horses, like 3-4, and have some land, 10-20 acres. minnesota, michigan, and ohio seem like good places. which state do you think is better? do you have any places in the state that you would recommend? please consider things like schools, crime, jobs, housing and land (cost, foreclosures, availabity...) the people, etc. thanksthanks mcc. i was thinking about wisconsin, my grandma lived there and i loved it. i wanted to keep the list down though so i didnt add it. but now i think i will. WISCONSIN IS NOW AN OPTION!! more

Voting Question: how foreclosure works?

I live in michigan, I'm wondering if the mortgage company has the right to garnish your salary or go after your savings, please advice. thank you. more

Resolved Question: Psychology question- Would you prefer to be happy where you live with low $ or Hate where you live with high$?

I don't tell my husband very often how I feel. My Husband told me this week about a job offer he received--I really wanted him to take the job- yet it is located in Detroit Michigan. Detroit seems like the worst possible place.... He had received a call from the Director of a not-for-profit in Detroit. She spoke to him about being the vp or chief operations officer of their organization. I was so thrilled this had come up again! I was checking out houses like mad yesterday--- very excited about his possible promotion and I calculated his pay increase to be over 30k. So last night my husband said he was happy here and we would not be moving to Detroit- I did show him the very COOL homes I found outside of Detroit to no avail.... I cant believe he would pass up that much money. But we do love where we live in North West Michigan. This just seemed like his big break...we have been poor our whole marriage....and I am paid such a small salary in the Social service field- Thanks for the advice. 17 minutes ago - 4 days left to answer. Additional Details I asked him in an email today to write down pros and cons for moving and taking the job---Obviously the worst part of the promotion is Detroit...Is it as terrible as what I have read??- most foreclosures in the US...highest unemployment in the US and so on. Some of the downtown looked like a Middle East war zone- when I searched on line for photos. I have only been stuck at the airport- never been to the city. My husband was in the city about a month ago.I do not have equal power in the marriage- so he has made the final decision and has closed the discussion. the end. *sigh* more

Voting Question: Sheriff's sale is cancelled in Wayne county Michigan, what happens to my house?

My sheriff's sale was scheduled in Feb. But our county sheriff stopped foreclosure sales before the sale, I have not heard anything after that. I tried to contact my bank, but no response. Does anyone know what is going on? I am scared that they could throw my stuff out of my house before giving me any notice. Is it possible? Or they have to give me some sort of notice before they take any action?SINCE THE SHERIFF'S SALE WAS CANCELLED IN THE WHOLE COUNTY, I IMAGINE MY HOUSE WAS NOT IN THE AUCTION WHICH MEANS THE REDEMPTION PERIOD HAS NOT STARTED??? more

Resolved Question: How long in Michigan does it take for the bank to foreclose on our home?

We were told not to make payments until after the bankruptsy, and then catch up on our mortgage payments after the discharge. How long before the bank would start foreclosure? more

Resolved Question: Foreclosure: do we have to pay income tax on the whole amount?

I have a tax question. We now live in Michigan but our January 2008 foreclosure was a property in Utah. We were unable to sell it and had to let it go back to the bank. They told us that it would be auctioned and we would get a 1099 tax form for the short sale amount (their loss). They were unable to auction it off, so we got a tax form for the ENTIRE amount of the mortgage, as if this is income! On top of everything else we have been through, are we gonna have to pay tens of thousands of dollars on this? The property became a HUD home and now belongs to SOMEONE... why should we have to pay tax on the property amount as if the whole thing was our income? This is so screwed up and unfair. Plus, we had mortgage insurance, so how on earth can they say that this is our income?? The mortgage insurance is in place to pay off the bank in case of default! Please, no ignorant comments. We TRIED to save this situation but we were victims of an unfair mortgage like many others, PLUS my husband suddenly became disabled and unable to work while I was very pregnant with our 3rd child in a very dangerous pregnancy. We had to move out of state to save our family and were forbidden by the bank to rent out the property, which was worth $30,000 less at the time than what we paid for it 5 years previously. We had a pile of medical bills the size of a mortgage and had to move in with family for help with this difficult situation. So to anyone wanting to post some snarky remark about paying bills, don't. The last thing we wanted was to end up in a situation like this! If there's anybody out there who can help us with this tax question, we would appreciate the input or advice. We are having our taxes done Monday so I guess we will find out at that time, but we're extremely anxious about the situation and any information will help. Thank you.Thank you, Jss and Stephen for your helpful answers! I will print out the links you gave me to bring to the tax accountant. The cancelled amount was around $75,000. I only earned $23,000 last year (husband $0). Yes, we lived there for 5 straight years and it was our primary residence. I have high hopes that we might come out of this unscathed, or at least just a bit singed. Thank you from the bottom of my heart for the helpful and non-judgmental information.Stephen - I do not know what insolvent means but it sounds pretty serious so... yeah, we probably were/are insolvent. We didn't go through a bankruptcy though, just hell. Travelguruette, we did not refinance. When listing assets and debts... as of when? At the time of the foreclosure we had a WAY negative net worth. Today's story is a bit better. But we're talk ing about last year. I think we have a reasonable assurance here that we will find some mercy at the end of this tunnel. Thank you all so much!Marisa... you make yourself look bad when your message is spammy and self-promotional, when your network and Q & A are suspiciously "private" and YOU are set up to make money off your web site. I'm not stupid! Find other ways of advertising your scam!!! more

Resolved Question: Michigan child support question, ex lost job, refuses to get another, will CS be reduced to proportion of UE?

My ex-husband lost his job last week, we have two children together. I asked how his job search is going, he stated that he has no desire to get a job, since he has called his mortgage co. and told them his situation and they (according to him) said not to worry, they have a lot of programs available to prevent foreclosure. He wants to go back to college (for the 4th time) and become a commercial pilot. He does not care about paying to support his kids, he wants to punish me. I currently have full custody of the kids, he only sees them every other weekend, he said he doesn't have time for weekday visits. I have another child (15 months old) with my new husband and stay home to take care of all three of my kids, since my new husband's income allows for that. Without the child support I will have to get a job so I can support my first two children, which is fine, except that I am wondering if the state will simply lower his child support to what he can afford while he is on unemployment or will they set child support at what he can potentially earn? more

Resolved Question: is there a free website for foreclosures that doesn't require a credit card number for Michigan?

Resolved Question: Foreclosed Condo in Michigan?

I own a condo in Michigan that has a foreclosure sheriff sale date next week. I plan to live in the home until I can find another place to go. Do I have to continue to pay the condo association fee while I live in the home since I will no longer be the home owner? more

Resolved Question: Short Sale becomes Foreclosure- how long until it is relisted?

My husband and I live in Michigan. We are really in love with this house- we were just about to put the offer in (it was under short sale) and now they said it is off the market- because it is foreclosing. I am wondering usually how long it will take to come back on the market as a foreclosure where we can put our offer in. Also, will the price be less now than it was when it was a short sale? Thanks! more

Resolved Question: What are my chances of a lawsuit if I default on my primary mortgage (foreclosure)?

The small condo we live in can longer support my growing family, and I would need to dump half of my savings to sell it (upside down to tune of $40K with realtor/transfer costs) assuming I can even sell it. In this economy, I cant justify it so I am investigating this alternative. Here are some of the specifics: - the property and mortgage note are both in my wife’s (maiden) name - she purchased it before we were married - located in Michigan. - loan documents appear to be non-recourse (there is a power of sale clause – need attorney review of documents). - Judicial foreclosure vs. foreclosure by advertisement – what is more likely? To but things in perspective the loan balance is $114K. - Deed in lieu and/or short sale are unlikely since I have funds to pay, but would substantially drain my funds and when my job is not very secure. - My wife pays private mortgage insurance every month since loan inception – does this cover the lender for default? If so, would that reduce the probability of being sued? - As stated, property/note are both in my wife’s name. Can they sue me as well? Even if they just sue my wife, how can you differentiate between what is hers/mine (she doesnt have any separate accounts). I have done alot of research, and I realize no one can give me a definite answer. I understand the hit to credit, etc, etc. I am working off of probability right now. Thanks in advance for any help! more

Resolved Question: How long did your SE Michigan foreclosure take?

Please only answer if you have gone through the process. Don't tell me how long it usually takes, I want to know how long it actually took. How long did you have in the house before the sheriff sale? I know you have 6 months after the sale, but how long did it take before you were actually scheduled for the sheriff sale? Thanks! more

Resolved Question: For Realtors and Brokers...can a bank owned foreclosure be sold during the grace period?

Our builder/developer declared bankruptcy on the model home and remaining lots in our neighborhood. It went to Sheriff's auction in January. We have found buyers willing to pay MORE than what the bank paid for the model home at the auction but our builder won't sell it. I've asked the bank and they told me it has to go through him? Weird, since they own it now and you'd think would want to sell it. He says that he has a six month grace period to come up with the money and buy it back...he's already declared personal bankruptcy as well, so unless he wins the lotto, its not going to happen. So even though he knows there's a buyer out there, he refuses to give the asking price until July and says it's off the market until then. I've never heard of such a thing...and wonder if any experienced realtors or brokers out there can shed some light on this for me? BTW - we live in Michigan. more

Resolved Question: Need to know how I should file taxes this year /1099 foreclosure issue?

I got married in December of 2008. I'm trying to figure out if my spouse and I should file jointly or separately. We live apart, shes in Michigan, I'm in Arizona. I had my home foreclosed in 2008 and got a 1099. I'm not responsible for paying the bank back anything as far as the difference in what I owe and what it sold for in auction. The home sold for 30k less than what I owed on it. How should we file? Should I file separately? She made about 50k last year, and I made 30k. For recently married couples, is their advantages for filing jointly vs separately? I know I may take a big hit and owe taxes because of the 1099 issue, but I don't want her to lose her refund if we file jointly. If you're a CPA or tax professional, any advice would be helpful. Thanks. more

Resolved Question: I am thinking of letting my house go into foreclosure, I live in Michigan?

and I have a home equity line of credit also (2nd mortgage). What will happen to the equity line of credit. Will they come after me for that? Will I still need to make my payments? Or does anybody know where I can find information on foreclosure in my state? more

Voting Question: Does anyone know if in Michigan a bank can come after personal assets after a foreclosure?

I am considering foreclosing on a condo in Michigan. I paid $369K in 2005 and my it has been listed at $225K for over a year. I still owe about $280K. I now live in Colorado and have bought another house. The condo is sitting empty in Michigan and is costing me about $3000 per month. The right financial decision is to foreclose, but I have the cash to pay it off and I don't want the bank coming after me after foreclosure. I've heard that in some states, the bank has to file a different type of foreclosure in order to come after assets and banks don't do it because it's very expensive and time consuming. Does anyone know what Michigan foreclosure law dictates? Thanks. more

Resolved Question: Are all basements a little wet in Michigan?

I'm buying a $69,000 or less house, 75% of the houses that I've seen are a little wet or musty. I see no mold. I do see little puddles 12 in? after our huge rain/snowfall record amounts. All the houses that I've seen are on TOP of hills! The least eexpensivehouse (below SEV, facing foreclosure) was the driest, with beds & TVs in the basement! Are all basements in MI a little wet? I only saw one "Michigan basement" whatever that means. Yes, it was a bit wet, too. Please help!!! Thanks so much! more

Voting Question: Tell me your Michigan Foreclosure story...?

We may be facing foreclosure in Michigan. Gonna talk to a lawyer eventually but I was just trying to get some feedback on what happened during and after. Did the mortgage company sue your for deficantcy or wright of your debt? If you had a second mortgage...what happened to it?? Did you have to pay taxes on the deficantcy?? We bought our house in 06 for 135,000....refied in early 07 for a lower rate on the 1st mortgage and we also opened up a 2nd mortgage for 15,000 at the same time with the same company (GMAC). Since our mortgage is so young, we've barely paid of any principal because most of our payment was for interest. Our home was assesed for tax purposes this winter for 120,000. more

Resolved Question: Seller Not Paying Mortgage on Land Contact Home I purchased?

I brought a home over a year ago on a land contract. The terms of our written contract were that I would pay the seller for three years on a land contract. And at the end of the third year would seek financing for the home. This week I received a letter in my mail boxe with no envelope from the bank the seller purchased the home from. The letter stated the seller's Mortgage was in default and if the past payments and payment due next month weren't received house would be placed in foreclosure. All of my monthly payments have been paid on time and I have paid my March Payment at this time. What recourse do I have at this time? I have contacted the bank regarding the foreclosure status of the home I reside in. But since i am not the buyer they weren't able to provide me with any information. I feel that I should retain my monthly house payment for April. If he is losing my home why would I be paying him to have him pocket my money and not pay the mortgage company. I reside in Michigan and I am not sure of what the laws are concerning the Land Contract buyers. Please I need advise as soon as possible. I can tell you that I haven't contacted the seller because I talk to him every month and not once has he mentioned his lack of paying on the home I am purchasing from him at this time more

Resolved Question: Free foreclosure List! Please!!?

Does anyone know of a web site that list foreclosed homes in Michigan WITH the square footage information and does so with out making you pay any money. All I can find are sites that want me to pay to get the details. Please help. more

Resolved Question: Real estate/ foreclosure sites?

Just wondering if anyone knew of any other foreclosure web sites in Michigan, like michiganreo.com?? Thanks !!! :) more

Resolved Question: what's going to happen to me during a foreclosure?

My husband and I bought a house last march (2008) and shortly after we both lost our jobs. We did everything we could to find new jobs but the economy in Michigan sucks. We sold so much of our stuff in yard sales to keep making payments and eventually we just couldn't make them. In July we both found a job at a temporary place, and we sold one of the cars to make a house payment. I again lost my job after my temporary assignment ended but my husband continued on with his job, but only making enough money to support us. We have been given a notice of foreclosure and do not have the money to keep it out of foreclosure so we want to know what's going to happen to us. We have a baby due in June and cannot afford owing anything... I was hoping I would get some positive feedback.? We tried putting our house on the market already and we have a couple that are possibly interested in buying it but not until June and when we called the mortgage company they said that they would not wait until June... so we don't know what else to do.. we don't really have the money for a foreclosure or bankruptcy either?? more

Voting Question: our house is in foreclosure. can we rent it from the bank that bought it. we are in michigan?

Resolved Question: Is there a website or list of non foreclosure homes?

Does my realtor have a nice handy list? I could really use such a list! I am pre qualified for an FHA approved home (not a bank owned, not as is, not foreclosure, not repo)... and not a lot of acres (shame really, I might like acres.). Also, I'm having a difficult time finding honest to goodness stick built or block homes in a rural area. All I can find are mobile homes that sell for $9,000 up to $69,900. I might consider a bargain mobile home (on acres) if I had financing. I would not like a $69,900 mobile home. who would? when I have the option to buy a house at the same price? can someone please, please, help me??! I need a house fast. I've been looking at houses forever. I had no idea that I needed FHA approval. It keeps getting more and more frustrating to find a house. I am in Michigan. Thank you so much for your help! I really need it! I'm busy mom chasing a toddler around all day while daddy is away! He's busy and can not help me look for a house (he says it's basically my choice, anyway, sweet, ,nice, huh? sorta, anyway : ) PS. I have $15,000 down, and not the best credit score, 609 , I believe. I was indeed pre approved for up to $65,000.Thank you everyone! Thank you!!! I have lived in mobile homes and I have lived in houses. I don't know what to do. If I choose a 1984 mobile home, it will need to be replaced when it is 30-40 yrs old. OK. yes, that's reasonable. But why buy another one? why bother? why not just get the $60,000 house in the first place? Will a new mobile home add to the cost of my bargain mobile home, add up to the $60,000 house in time? yes? or no? I'm so confused. I won't live but another 50 yrs anyway. Maybe the mobile home can last that long? By the time that happens, hopefully, my kids will already be in college or have bought a house of their own, they will not need the proceeds of my mobile home or house sale to benefit them. more

Resolved Question: Does anybody know exactly what happens to your credit after a real estate short sale?

We were recently married, each came to the marriage with a home. We are selling one and are not in foreclosure but for financial reasons we need to unload the house. There is no way we will sell it for what we owe, we are in the suburbs of Detroit, Michigan. Home values continue to decline. Wonder if anyone had done a short sale in a similar situation and what your credit looked like after. It is my husband house entirely in his name and he currently has near perfect credit. Thanks in advance! more

Resolved Question: Michigan Foreclosure Questions... Please help!?

I am going to be going into foreclosure and have a few questions for you all. I have a second mortgage on the property. When the house sells at sheriffs sale, there is no way it will sell for even the amount of the first mortgage. What happens with the second mortgage? Do I have to leave all the appliances? We replaced every single appliance in the house when we moved in. Do we have leave all the new ones? How long does the process usually take? more

Resolved Question: Can bank take money out of my account if I'm on the mortgage only?

I am in Michigan.My house is going to foreclosure. My name is on the mortgage but not on the deed nor the note, am i liable for the payment? Since I am not on the loan, will the foreclosure affect my credit once it's completed? Some told me yes some told me no, now im confused. After the bank takes the house back, if they sells it less than what we owe, can bank take money out of my bank? more

Resolved Question: Am I liable for the payment if my name is on the mortgage only?

My house is going to foreclosure. My name is on the mortgage but not on the deed nor the note, am i liable for the payment? I just check my credit report it is not affected at all, does that mean i'm safe and the bank won't come after me??? I am in Michigan. Thanks. more

Resolved Question: I cant sell my house for what I owe on it, and am heading toward a divorce.?

What happens in this situation, should we let it go into foreclosure? Or do I have to live with my ex wife for the rest of my life. We live in Michigan and we cannot afford the payments individually. more

Resolved Question: Any hints for selling homes in SE Michigan. Ours has been on the market for six months, is well priced. ?

We have reduced price to be one of the lowest priced homes (above foreclosures) in Bloomfield Twp. We need more traffic thru the house. more

Voting Question: how to buy a forclosed house?

me and my wife want to move back to san diego we live in michigan now and own a mobile home(paid for) but the weather in michigan sucks and all our friends live in san diego anyway i was seeing all these sites and commercials about buying foreclosures with no money down and no credit check is this for real because the reason we left san diego in the first place is work was slow and i fell behind in my payments going into debt but were working to pay it all off just wondering if any body had experience with this or knows anything about the process thank you more

Voting Question: What to do about this mess?

What to do? First off this story is so long, ill cut it down but ask questions if you need to. I am not about to be foreclosed on. I am current on everything , me and wife have a great credit score, never late. When I got married both of us wanted to move out of Michigan but stuck around because of my parents. 10 years later, my mother passed a few weeks ago and dad about 1 ½ years ago. Dad was not stupid about money. Will be acted on in a few weeks and I stand to inherit a small, barely 6 digit amount. Well, you guessed it, nothing holding us back Except the bath I would take EVEN if I could sell my house. I have NO PLANS on spending %60 of my inheritance paying off my upside down mortgage. Short sell is so far upside down the mortgage company would NEVER go for it. And no houses are selling anyways. I could be wrong but I think my next door neighbors are going to walk away from that house and my neighborhood has a few bank foreclosures up for sale already. What to do? What not to do, if I walk, I will have a tidy sum in my bank account—should I not bother depositing my inheritance—can the mortgage company come after me? Note: I will be posting a second question later concerning my inheritance and some property.Renting out not even on table i think, i will not be around to take care of property.Have other homes in area for rent--not moving. more

Resolved Question: SO how do you find out the sheriffs date telling when you have to be out of the house after a foreclosure?

I am in Michigan, I know it states that you normally have 6 months to a year to move out after the foreclosure sale? Is this what is posted on the door or garage of the house? more

Michigan Foreclosure Resources