Legal Question in Real Estate Law in Michigan

Re: foreclosure

As a general answer, YES, Michigan does allow a deficiency judgment. In addition, due to the statute of limitations (time after which they can not sue you) being 6 years it is likely that for many people it may not result in a deficiency suit until they have re-established they employment and are in a better financial position.

However, there was a Michigan Court of Appeals ruling in the Fall of 2008 that addresses some items in relation to who may seek a deficiency. As such I would encourage you to speak to a real estate attorney prior to making a decision.