Is Michigan A Non Recourse State All Locations : Nationwide Real Estate Advice

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Cwenniss, Home Buyer in New York, NY
Cwenniss asked:
First time home buyer, can I use my 401k money for down payment without major penalty? Hello, my wife and I are wanting to buy a fixer upper house to flip in the Denver CO area. We both have mone ...
0 votes Share Flag Sun Apr 24, 2016 Home Buying in Denver
David White, Real Estate Pro in Lakeview, MI
David White asked:
Seller never disclosed it was a manufactured home I bought a home a year ago which we now have for sale. The sellers never disclos ... . Since it is a manufactured modular home, the resale value is below what we owe on the mortgage. Do I ...
0 votes Share Flag Mon Mar 30, 2015 Home Ownership in Weidman
Ajh522, Home Seller in Jefferson Chalmers,...
Ajh522 asked:
I would like to find out how to sell a vacant and distressed property. What is the best way? I own a property that has been vacant for sometime and would like to sell the property or give it back to t ...
0 votes Share Flag Thu Jan 8, 2015 Home Selling in Jefferson Chalmers
Scumdog81, Home Owner in Warren, MI
Scumdog81 asked:
Should I walk from my upside down mortgage since I have a reasonable place to go? I originally bought my house for $146K. Now I am stuck in my 7.0% mortgage on t ... debts. Ethics aside, is this a good idea? I am worried about a deficiency judgment, though it sounds ...
0 votes Share Flag Thu May 9, 2013 Foreclosure in Warren
Sara, Home Buyer in 48066
Sara asked:
Paying cash for a home in Michigan two years after a foreclosure in California. *Note to everyone never go to your bank when having trouble making payments. We ... about this. Anyhow since my secondary co-borrower (A family member) couldnt find work and ran out of ...
0 votes Share Flag Sun Sep 30, 2012 Home Buying in 48066
Karen, Other/Just Looking in Michigan
Karen asked:
Is Michigan a non recourse state? If not, if someone decided to foreclose in the state of Michigan could the ... bank or mortgage company come after your other assets or garnish your income?
Thanks
0 votes Share Flag Thu Jul 26, 2012 Foreclosure in Commerce Township
2vegas, Home Seller in 48105
2vegas asked:
Short sale- Seller backing out a day before closing Bank accepted offer. Told us we had to close on or before today. Had a closing d ... in moving costs from Las Vegas..mortgage fees..appraisal fees.. They even signed a "non-cancellable ...
0 votes Share Flag Tue Jun 12, 2012 Home Buying in 48154
Lisa Reeves, Home Seller in Grand Rapids, MI
Lisa Reeves asked:
I had a home foreclose on me, about 3 years ago. I tried doing short sales but the bank would not allow any ... relationship. He is concerned that the bank can come after me for the house that was foreclosed on me. It s ...
0 votes Share Flag Tue Oct 18, 2011 Foreclosure in Plano
Wunej551, Home Owner in Battle Creek, MI
Wunej551 asked:
Is Michigan a non recourse State? We are gonna give the house back to the bank, too much stress with screwed up re ... great for about the first 4 months theb you could write a book with all of the excusess why the rent is ...
0 votes Share Flag Mon Aug 8, 2011 Foreclosure
Diane Angelo…, Home Buyer in Michigan
Diane Angelosante asked:
I work for out of state real estate investors. We have investment propeties in michigan looking for a ban ... to refinance, need 70% LTV. They are very solid investors w/ great credit as this is what they do for a liv ...
0 votes Share Flag Tue Oct 26, 2010 Financing in 48224
Bob, Home Seller in Troy, MI
Bob asked:
Hello, My house in Michigan is worth at least $150,000.00 less than what the loans are.I have two ... one (the bigger one) to Fannie Mae.I moved out of state 6 months ago for a new job.My new job is ve ...
0 votes Share Flag Fri Jan 15, 2010 Foreclosure in Troy
Starting Over, Other/Just Looking in 49426
Starting Over asked:
My house sold after forclosure, am I responsible to pay the balance? We had a real estate agent working on a short sale and we had an offer for about ... pay. The state is Michigan. Thanks. ...
0 votes Share Flag Wed Jan 13, 2010 Foreclosure in Hudsonville
Marie, Home Seller in 48005
Marie asked:
Our house is worth $100,000 less than our mortgage. We want to get a divorce. Any advice at all? My husband can not afford the payments and I want out of everything.
0 votes Share Flag Wed Sep 30, 2009 Home Selling in 48005
Lovemycats, Home Seller in Sterling Heights, MI
Lovemycats asked:
Is michigan a non-recourse state? If so, doees this mean if you sell a home on a short sale in MI, are you not responsible for the tax on th ...
0 votes Share Flag Fri Apr 10, 2009 Foreclosure in Sterling Heights
Sophie, Home Seller in 48306
Sophie asked:
Foreclosure law Michigan Hi,We have a pigyback mortgage: a 80% regular one and a home equity loan of ... % of the price. The question is how will this behave in a foreclosure situation? I allways asumed, we ...
0 votes Share Flag Thu Dec 18, 2008 Foreclosure in Michigan
Maureen, Home Buyer in West Chester, PA
Maureen asked:
I would like to have someone contact me re: recourse for when an inspector (hired to look out for our ... interests) did not adequately do his job, andalso the sellers who did not disclo ... combining two households tomove my in-laws in with us (88 and 85 years old). We have been crammed into a ...
0 votes Share Flag Thu Nov 8, 2007 Home Buying in West Chester, PA
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