The lender is likely going to require that you sign the mortgage, whether you are part of the loan qualification, or not. Michigan is a dower state, and thus you have inherent dower rights to the property. You need to speak with the loan officer and the title company, but I believe you will find it to be a requirement.
Best of luck to you both.
Derek Bauer, Associate Broker
Real Estate One - West Bloomfield... more
Once the foreclosure auction takes place, if the bank buys it back, the property is assigned to an asset manager or an asset management company who will appoint an asset manager. They in turn will assign the listing to a local broker. The broke rwill attempt to make contact with you and should offer you a cash for keys agreement, some banks call them relocation agreements where they will offer you from $500 to $1500 to move within 21-30 days and not leave anything behind or any damage. you can negotiate the money and time frame, the quicker you move the more money they will pay. If you choose not to take this agreement they will file for eviction, i am not sure what your state laws are regarding eviction, but most laws give you a 30 day notice to file for a hearing, if you choose a hearing one is set within 2 weeks, at that poiint the judge will order you to move and give you a set time ffrom 14-30 days. Your bets bet is to take the cash for keys so you at least get something to help you move on and put this behind you, there is nothing worst than you paying your rent and teh landlord not paying the mortgage, you also should seek a return of you security deposit immediately, make sure you check the state laws to protect yourself, good luck working things out... more