Foreclosures Help Information

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Foreclosure Attorney Michigan

Question: Can a wife open mail addressed to only her husband in Michigan?

This is where is gets complicated, the couple is in the middle of a divorce, not yet finalized and the husband refuses to change his mailing address. Since the divorce is still not final is this considered "community property" since it was received at the marital address? My ex husband is in serious arrears for child support and I am expecting a letter from an attorneys office in regards to the foreclosure of our marital home, I opened this thinking it was a document I needed to sign for the mortgage company, but it is in relation to a settlement for wrongful death of his grandfather, on which both he and our children are named as heirs. I would like to give my attorney/friend of the court this information, but am hoping since he won't change his address I will not be facing any charges for my error...any ideas?

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Answer: The law only provides for intercepting or causing interception of mail in transit (pre-delivery). Once the mail has been delivered to it's proper address, there are no laws regulating WHO can open and read said mail

Facing a Michigan Foreclosure? The Time to Act is Now! [Short Sale Specialist]

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Foreclosure Law Michigan

Question: about foreclosure?

my brother-in-law is trying to work a deal with my mortage company, so we do not lose our home. but here's my question: if our home does get auctioned off, how long do we have before we have to be out. we are in flint michigan, and have no were else to go. any investors out there? we need help. our mortage company is nothing but a bunch of liars. i also got this loan with a 536 credit score, should not have gotten this loan. why did i?
krjones i wish i could e-mail you!

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Answer: Sometimes it depends on the bank. They can't just kick you out like that. You may even have up to 6 months. What you do is find you a realtor and list your home on a short sale. Once that is done, write your lender a hardship letter and an authorization for your realtor to handle all information; that way it's okay for you not to make payments. If someone bids on your house,again, let the bank know (if your home is bank owned already) that you have a potential buyer and to give you time. And if the bank gives you a deadline to vacate, they usually pay moving cost; roughly $700. Depends. Besides, Bush passed the bill so that you'll be forgiven. This won't affect your credit.

Just pay back the money you didnt spend. You don't want to be further in the whole.

Republican's Anti-American Plan - Lose Home, Lose Right To Vote

Foreclosure Lawyer Michigan

In Michigan a bank can choose either judicial or in-court foreclosure or non-judicial or out of court foreclosures.  As with all states where both methods of foreclosure maybe used, the determining factor as to which process the bank will choose is whether or not the deed of trust or mortgage contains a power of sale clause. It is the power of sale clause that allows the bank to forgo the time and expenses of filing a lawsuit against the homeowner who is having trouble making his payments, to begin the foreclosure process.  Since it is in the banks best interest to spend as little as possible on the process and move it along as quickly as possible, the bank will always choose to use non-judicial foreclosure when it can.

The only time a judicial foreclosure will be used is when there is no power of sale clause in the deed of trust or mortgage.  When no power of sale clause exists, judicial foreclosure is the banks only option.

To follow this course of action, the bank files a lawsuit against the home owner asking the court to find the homeowner officially in default.  When this has been obtained the judge/court will tabulate the amount that the home owner owes and give him or her a short time to come up with that amount of money.  If during this allotted time the homeowner is unable to pay this money, then the home will be scheduled for sale.  The court actually must issue the notice of sale.  Following this action, the process moving forward, the sale date is followed the same way, whether it is a judicial or a non-judicial foreclosure.

When a power of sale clause is very specific in the details of how the sale is to be conducted, those instructions must be followed.  In such a case the date-time and terms of the sale will be laid out in the deed of trust or mortgage.  Such detailed, instructions are not.

Usually included in a power of sale clause in all instances where those details are not included in the power of sale clause, the 1st step is that a notice of sale must be advertised once a week for four weeks. 

Integrity 1st Consulting is your Foreclosure specialist- Kathy Swift

This ad must be run in a newspaper with circulation in the county where the house is located.  A copy of the notice of sale must be physically posted on the home in question as well.  This posting of the notice must be placed on the home following the first day the ad is run in the newspaper.

This notice of sale must include the names of the home owner and the bank.  It must contain a description of the property and the date, place, time and terms of the auction.

The auction can either be conducted by the bank’s Lawyer, referred to in most cases as by trustee or the courts sheriff.  The sale will always be held between nine are and four pm on the date listed in the notice of sale.  The home will be awarded to the person making the highest bid at the auction.

Postponement of the sale can be arranged at the discretion of the bank.  Postponements of less than one week will only need to be announced by posting the new sale was originally to be held.

Postponements longer than one week must be advertised in exactly the same manner as the originally scheduled sale was done.

In Michigan, when a judicial foreclosure has been used, the former home owner is given one year right of redemption following the sale of the home.  This means that for one year following the sale of the home the person who lost the home at the sale can regain ownership of the home.   They may do this by paying the amount of the winning bid at auction, plus interest.

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Integrity 1st Consulting is your Foreclosure ebook specialist- Kathy Swift

Article Source: ArticlesBase.com - Foreclosure Process in Michigan

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