Legal Question in Real Estate Law in Michigan

forecloser

our home is in forcloser and I heard that we would have 60 days to get our home back. BUT well we have to leave our home or do we get to stay in it at the time of sell.


Asked on 1/18/07, 11:50 pm

1 Answer from Attorneys
Christopher Sevick Law Office of Christopher Sevick, PLC

Re: forecloser

For most people the law provides the ability to remain in your home for a period of 6 months after the foreclosure sale. This is your "right of redemption" period during which you can purchase your home back, find a new mortgage, or save your money for the next place you must move to. If you "abandon" the home the bank may speed up the 6 months since empty homes can have damage from being empty.

If my law office can be of further assistance please do not hesitate to contact me and see about retaining my services if necessary.

Chris Sevick

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Answered on 1/19/07, 8:13 am


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