Ken  Caswell, Other/Just Looking in Waterford, MI

My house went into foreclosing, now i go to court for eviction what will i expect

Asked by Ken Caswell, Waterford, MI Mon Oct 27, 2008

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6
Tony Grech, Mortgage Broker Or Lender, Southfield, MI
Wed Jul 1, 2009
Hi Ken
I come across a lot of people who are facing foreclosure or have been foreclosed on and are looking to rebuild their credit, so I have heard a lot of stories. Like the others said, it depends on your unique circumstances, but here is a typical situation.

If you are still living in the home, you may be approached by an agent representing the bank who owns the home now via the sherrif sale. They may come to you offering "cash for keys". This basically means they are going to pay you some money (amounts vary) to vacate the home peacefully in a reasonable amount of time and leave the home clean and in decent shape. This benefits both you and the bank.

Also around this time you will likely be served with a summons to appear in court for an eviction hearing. By all means show up because if you don't the bank will enter a default judgement against you and they can kick you out on the spot. When you show up, most likely there will be an attorney representing the bank there. You'll have a chance to speak with the attorney prior to going before a judge. Be honest with the attorney, let them know if you are in a cash for keys negotiation or if you've spoken to the bank's realtor, and also give an idea of when you can vacate the home. In Michigan once the redemption period is passed, which it sounds like it is, the standard is 30 days to vacate the home, but if you need a few weeks or a month more maybe then the lawyer may be empowered to grant that to you.

Worry to hear about your situation but best of luck!
0 votes
Michael Thom…, Agent, Lambertville, MI
Tue Jun 30, 2009
Ken...as people have said depends on a few factors. Michigan works this way..most homes without acreage have a 6 month redemption period after the sheriffs sale (Sheriff's sale they post notice on your door, announces a date, that day at the sheriff's office they "auction" your home.) Clock starts running on that day. Most home owners don't make any payments past that date for certain. If you have acreage your redemption can be up to 12 months..rest of above applies same way.

Now..once that time is up..what happens. More and more homeowners are finding that the answer is nothing for awhile. I've had contacts who are into their 14th month and haven't received an evicition notice. Once they serve (usually done by again posting something on your door) notice of eviction, it will state a court date. If you go to court you can usually get another 10 to 14 days from a judge.

An alternative while in redemption is to call your lender and ask if they have a cash for keys program. Literally they may pay you a few thousand to leave house without trashing it. But..for most people if they can live rent free for these months that's a better option.

Sorry to hear of your struggle. Hope the future brings you better times.
0 votes
Marilyn Harr…, , Beaverton, MI
Tue Jun 30, 2009
You could be looking at your 6-12 month redemption period if you were talking the sheriff's sale or if that's over, you may have only 10 days from your court date - or what ever the judge decides: 0 to 90 days.
0 votes
Maureen Fran…, Agent, Birmingham, MI
Tue Oct 28, 2008
Depends on what stage you are at. Do you have the court date set? In court they will tell you when you have to be out. If you are not out before that date, you will be evicted. Best to start looking for something so you are ready when the time comes.
Web Reference:  http://miOaklandCounty.com
0 votes
Joe and Jean…, Agent, Park Ridge, IL
Tue Oct 28, 2008
Ken - each county is going to deal with forclosures at a different rate. I hope you have contacted your lendor to open up a conversation about how you can recover. Hopefully you have explored, short sale, deed in lieu of forclosure etc. If you haven't done this - ASK!! Your attorney may have some other option as well.
0 votes
Stew Keene, Agent, Scottsdale, AZ
Mon Oct 27, 2008
Ken,

If you were in Arizona, the court would be telling you you have 10 days to remove yourself and your belongings from the property.

I would start looking for a place to rent.

Best of Luck To You,


Stew Keene
Ph (480) 220-7491
Fax (866- 711 8573
StewKeene@yahoo.com
Keller Williams - Scottsdale, AZ
2008-2009 Master of Real Estate award recipient
ABR, GRI, ePro, CNE, MRE, AHWD
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