Two Quick Tips

Workouts

I have many people ask me why their lender won’t work out a payment arrangement with them. Most of the time it’s because whatever hardship that caused you to get behind on your payments,isn’t over. If you feel like a Michigan foreclosure is your only option, give us a call. You do have options, but you need to act fast!

Redemption Period

Did you know that in Michigan you do not need to move out of your house on the date of your foreclosure sale? If your lender tells you differently, their are either lying or misinformed. Depending on several factors, you will have between 6 and 12 months to “redeem” your mortgage. You can redeem it by purchasing the house back with either a new mortgage (this won’t happen after a foreclosure) or cash for the full balance, or by selling the property (even via a short sale if needed). By doing any of these, it will STOP your foreclosure. For more information, give me a call, but make it fast.  Why?  That 6-12 month redemption period can very will be reduced to 30 days and we can help make sure that does not happen to you.

Emily

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