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Foreclosure in 48125 : Real Estate Advice

  • All23
  • Local Info2
  • Home Buying15
  • Home Selling2
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Activity 9
Thu Feb 26, 2015
Ryan Rivera answered:
It is possible. There are many factors that come in to play to obtain a mortgage loan. I would recommend contacting a loan originator in your area. They can dig deeper and point you in the right direction. ... more
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Thu Feb 26, 2015
Ryan Rivera answered:
Wed Feb 25, 2015
Tim Moore answered:
What sort of auction? Foreclosure auction? Private auction? Online auction? They all advertise the upcoming auction so it's not hard to find. Online auctions advertise the opening bid as marketing to those thinking they will get it for cheap. Becarefull with those. Lots of rules to follow. ... more
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Mon Feb 23, 2015
Jeffrey Parks answered:
Short answer is yes. However, the instrument or document would be a "Deed in Lieu of foreclosure"
whereby the Homeowner would sign the property back to the mortgagee and have no further rights to the property. Each case has its own quirks, if you are considering this option I recommend you seek information from a local "experienced" or a "qualified" Real Estate Attorney. ... more
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Mon Nov 18, 2013
Andy Hargreaves answered:
Let me ask you this -- so, you haven't paid for something in almost 4 years, have lived for free and expect to get it for that cheap?

You'll have to check with your local jurisdiction, but likely no -- you'll have to reinstate your current mortgage note plus the fees you've accrued in order to sell it. Someone else might be able to purchase it for an amount above the auction amount, but you don't have a lot of time to figure that out.

You will want to consult a local attorney to advise. But based on rules here in Michigan, I'd start packing if I were you.
... more
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Thu Dec 27, 2012
Michael Delaware answered:
It is not quite a bad as you think. You just need to better understand the subject of seller financing. I wrote an eBook that is available in Kindle format on Amazon. It is called: Understanding Land Contract Homes: In Pursuit of the American Dream. It also covers how to repair your credit, and use Land Contracts as a bridge to being able to get into a mortgage again in the future: http://www.amazon.com/Understanding-Contract-Pursuit-American-ebook/dp/B00ASCTJQG/ref=sr_1_1?s=books&ie=UTF8&qid=1356629666&sr=1-1&keywords=land+contract+homes ... more
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Tue Nov 20, 2012
Kathy Persha answered:
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
... more
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Wed May 30, 2012
Kathy Persha answered:
Public records are not updated immediately, especially in Wayne County. Your best solution would be to call the county clerk and ask about the sheriff's sale or call the office of the foreclosing attorney. Another option would be to call you lender directly. All of these three entities should be able to tell you if it sold and for how much.

Kathy Persha, Realtor
Keller WIlliams Realty
248-930-0198
... more
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