Legal Question in Bankruptcy in Michigan

CH 13, Foreclosure and Taxes.

Yes. I was out of work for four months and just stated working. My mortgage company plans on trying to foreclose on my home. I only owe $2,000 past due and wish to keep my home. It' worth $120,000, and I have a loan for $60,000. I was told they plan holding an auction and selling it for the $60,000 outstanding on the house by the end of September. Since I just started working I was informed I couldn't get a second mortgage to help me with the debts for at least another two months of employment. I also owe the state of Michigan $500.00 in income taxes which they plan on putting a lien on the house. My question is a ch 13. the best course to handle my problem and will it cover my income taxes that are outstanding. I live in Detroit, MI and would need a lawyer in my area that can handle this matter. Also what is the normal price for a retainer?


Asked on 9/16/03, 3:59 pm

1 Answer from Attorneys
Gary Weingarden Gary D. Weingarden

Re: CH 13, Foreclosure and Taxes.

I'm not sure that I fully understand your situation. First, has the mortgage company already sued you to foreclose upon the mortgage? If not, there is no way they will be able to hold an auction that soon.

Second, you have $60,000 in equity in the house and you can't get a loan to cover $2,500? That sounds wrong to me. You should probably further investigate financing options.

Until you have answers to these two questions, it will be difficult for me to answer your questions about chapter 13, except to say that you should get the answers before you do anything else.

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Answered on 9/16/03, 4:56 pm


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