Ruben

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Was this ethical? What recourse do I have? Someone please buy my house so I can get away from my ex!

Asked Sun Sep 7 2008, 17:26 by Brenda's Ex… - 60140 - How To... - 8 answers

Ruben answered:

You also should contact the police for prosecution and an attorney for civil action. That was way beyond unethical, its illegal. - Thu Sep 18 2008, 11:18

In Michigan, can the bank enter my home during the redemption period?

Asked Mon Aug 11 2008, 13:21 by Greg - Detroit - Foreclosure - 9 answers

Ruben answered:

Im sorry, but Bob, your completely wrong. The reason why the bank can foreclose on the property is because they are the mortgagee, that is, the borrower, the mortgagor, gives them a mortgage at the closing. They already have the mortgage. That is why they have the ability to foreclose.

The bank has a vested interest in the property at this point, so if they believe its been abandoned, then they have every right to secure the property. There is a process they have to go through, but they do have that right if that process has been followed.

The best thing Greg can do, is to call the servicing attorney and tell them that you still live there. If you need an attorney, call the Michigan Bar Association for a legal aid office. - Thu Aug 14 2008, 07:48

A deed is a conveyence of property. The bank does now in fact have some ownership. However, they do not have fee simple ownership. They do not have the total bundle of rights, neither does the mortgagor. Here is a quote:

Law Encyclopedia: Sheriff's Deed
This entry contains information applicable to United States law only.
A document giving ownership rights in property to a buyer at a sheriff's sale (a sale held by a sheriff to pay a court judgment against the owner of the property). A deed given at a sheriff's sale in foreclosure of a mortgage. The giving of said deed begins a statutory redemption period.

Referencing link: http://www.answers.com/topic/sheriff-s-deed

Now generally, the deputy conducting the auction will enter in a bid on behalf of the bank for the amount owed. If they don't get out bidded, then the bank wins, and now owns the house, subject to the redemption period. But they DO have ownership of the property at the beginning of the redemption. - Wed Aug 13 2008, 14:33

Since the bank technically owns the house, they have a vested interest in it. If the redemption period has not ended, and you are really still living there, you need to call the bank's attorney and let them know of the suitation. Also, let the bank know. Let them know in certified letter. You should be receiving a letter from the bank or attorney asking you if you live there. You have 15 days from the date of the letter to get the response to them in writing stating that you do live there.

And yes, it probably is legal. - Wed Aug 13 2008, 12:05

I put in a cash offer for a bank owned property and put down a $1500 EMD. I changed my mind and told the

Asked Thu Jul 17 2008, 04:01 by Ms. Whitcraft - Detroit - Foreclosure - 12 answers

Ruben answered:

Until the bank accepts your acceptance, you are not in a contact. However, there are only two ways you can get your emd back. Dual consent or a court order. - Wed Aug 13 2008, 12:51

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