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Foreclosure in 48224 : Real Estate Advice

  • All44
  • Local Info4
  • Home Buying27
  • Home Selling3
  • Market Conditions0

Activity 3
Sat Apr 12, 2014
Annette Lawrence answered:
In Detroit MI, there will be an unimaginable number of traps waiting for the unsuspecting buyer.
Realtors who have been in business for over 20 years keep uncovering new strategies used to sellers or investor types to disguise issues with the sale.

Any attempt to provide a list of cautions would only add to your confusion. Your best course of action is the pick up the phone and CALL a REALTOR located where you want to buy.

CAUTION: When your deal goies bad, it's to lake to call a REALTOR.

A Detroit REALTOR will respond to your question shortly and they will also provide their telephone number. Be patient.

Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
... more
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Sat Oct 30, 2010
Kathy Persha answered:
Hi Alice,

In Michigan we have a redemption period after the sheriff's sale (auction). Usually that redemption period is six months but if the home sits on 3 acres or more, redemption period increases to 12 months. The homeowners can remain in the house during the redemption period. They can also list the house for sale and selll it with their lender's permission on a short sale during the redemption period. Once the redemption period is over, the lender will either post a notice on the door to evict the homeowner or will send an agent to the home and offer the homeowner cash for keys. In either case, the homeowner will have somewhere between 2 - 6 weeks to be out of the house after the redemption period. To read more on this subject, visit me on my website at ... more
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Mon Jul 19, 2010
Hannah Fliegel answered:
Hi Mark,

Did the lender file a relief of stay?

Do you want to keep the house?

If you were able to gain debt relief from your other obligations can you now afford to keep the house even though it's negative equity?

What would it cost you to move somewhere else and look at the math of the better option. Perhaps stay put because your monthly payment is affordable. IF you move you have to pay the moving costs and try to rent a new place with a bk on your credit profile.

This are questions that you need to ask yourself and your bk attorney.

Good luck!

Hannah Fliegel, FICO Pro
... more
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