Legal Question in Real Estate Law in Michigan

Re: foreclosure

First, there is one very important thing for you to do. Contact your lender at the number on your mortgage statement and ask for the "loss mitigation" department. It may be called something slightly differently but they will direct you correctly. Explain the situation and ask for the loss mitigation packet to be mailed to you. It is information the bank will ask for such as paystubs, taxes, etc. to be able to see how to assist you.

Secondly, if you are looking at foreclosure, contact a licensed Realtor and place your home on the market for sale. If you would like to contact me I will assist you in find a qualified Realtor to assist. The purpose here is that you are trying to sell, and may be able to ask the bank to forgive part of your loan (for example $20,000) if you can sell the home for less than the mortgage amount. The bank wants to see that you are attempting this and it is a strong argument in favor of assisting you with the first part of my answer.

Again, as a licensed real estate broker I would be happy to assist you, free of charge, with finding a local Realtor to assist you if you want that assistance.