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Rhapsodicbal…, Home Owner in Dearborn Heights, MI

What happens after the 6 month redemption period ends (in Michigan)?

Asked by Rhapsodicbalish, Dearborn Heights, MI Tue Nov 20, 2012

I am days away from my 6 month redemption period being up. This ends on November 24th. Does the mortgage company have to post an eviction notice or mail us of an eviction date, or come November 24th can they kick us out right then and there? Every state is different, so this is a "Michigan" specific question.

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At the end of the redemption period, the bank will do one of several things. They may send someone to your home and offer you "cash for keys". Their representative would offer you some amount of money to vacate the home quickly and leave it in "broom clean" condition. They do this to protect themselves against damages and so they can take possession without issues. After you vacate and turn over the keys to their representative, you would then receive the money. There is no guarantee that this would be offered to you. Some banks will offer it and others will not.

Or, they would serve you with an eviction notice. The bank can never just send someone to your house and start throwing your things out. Once they serve you with the eviction notice, they still would have to go to court and have a judge rule to evict you. This notice can be served by posting it to your door, serving it in person or sending it by mail. The landlord/tenant rules in Michigan are very much in favor of the tenant and at the end of redemption, you would be considered a tenant. Once the judge rules and gives you a date to vacate the property, if you are still in the property, the sheriff would then be able to come and remove all your possessions and lock you out of the house.

Kathy Persha, Realtor
Nextage Advanced Realty
248-930-0198
1 vote Thank Flag Link Tue Nov 20, 2012
First of all, Realtors are not allowed to give legal advice. You should direct your questions to an attorney. However, it's been my experience that you'll usually you start hearing from the bank prior to the expiration date of the redemption period by phone or mail.It they don't receive any response they will file an eviction notice with the courts, post it on your home and you'll have approximately 10-15 days before the court date. Sometimes the judge will give you some time to vacate other times they won't.

Good Luck,

Karen Paytas, GRI, CMS
Realtor
Real Living Kee Realty
586-709-8465
kpaytas@mirealsource.com
0 votes Thank Flag Link Tue Nov 20, 2012
It depends on who the selling bank will be.
More than likely, you've gotten notices on your door over the last several months -- that's who you will want to call.

Usually, you will get a notice on your door called "Know your options" or something similar.

If you call the agent assigned the home, you may be eligible for a "Cash for Keys" program. Generally, you'll get three options (Or some form of this, depending on your seller/bank):

1. Be out in two weeks, and you get some money for relocation assistance
2. Be out in a month and you will get half as much as option 1.
3. Be unable to participate with Option 1 or 2 and the seller/bank will begin eviction.

If it goes to eviction, you'll be aware of the date the court sets and your personal items will be placed out on the front lawn that assigned date for 24 hours before they are removed via dumpster.

It's in your very best interest to work quickly to comply with timely response to ensure option 3 isn't available. If you get ANY notice on your door from an agent assigned or representing the bank, call them immediately.

If you have any questions, let me know.
0 votes Thank Flag Link Tue Nov 20, 2012
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