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foreclosure options on sale

foreclosure options FAQ


No, you are not receiving anything.


No you have the right to pack your belongings. You are NOT a tenant.


Don't stop making the payments yet. Have a lender review the loan and the equity and see if there is something they can do in the mean time to lower the payments.

Second, see if they could rent out the house to cover the payments for now.


Don't stop making the payments yet. Have a lender review the loan and the equity and see if there is something they can do in the mean time to lower the payments.

Second, see if they could rent out the house to cover the payments for now.


Not going to happen. Any appraisal of a property includes improvements along with land values. The ENTIRE property is not appraising at the asking price. That means that the land ALONE is not worth the asking price.


She can try to talk the ex into a short sale but that's best handled by a real estate agent and a lawyer both. She might as well call the attorney right away. If the bank takes the house she may be responsible for any deficiency depending on the laws

foreclosure options news

Multiple options available for homeowners struggling with mortgage payments

18.05.12

It isn’t uncommon for housing officials who are elbow-deep in the state’s foreclosure crisis to agree that homeowners don’t always know where to turn for help.

That is, at first.

While recent statistics show few numbers of actual foreclosures and subsequent property sales, especially in mid-Michigan, some would say there are just as many people, if not more, reaching out for help when they run into trouble making their monthly mortgage payments.

Teagen Lefere said she assists five new people a week as a state-certified housing counselor at Listening Ear Crisis Center in Mount Pleasant, and a large majority of them are there for foreclosure.


Source: Central Michigan Life

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