Legal Question in Real Estate Law in Michigan

Re: sheriff sale

The law provides for a period of redemption during which you can buy back your house. To redeem, you will need to come up with the full mortgage payoff (principal, interest, and late fees), plus foreclosure related costs and fees (including attorney fees) and all costs associated with the the sale allowed by statute. This is generally accomplished by obtaining a new mortgage. There are numerous other issues involved to determine if the sale price was fair and how long your redemption period is which requires a consultation with an attorney.

Good luck

Re: sheriff sale

Yes, depending on the amount of equity(value over and above the mortgage amount) you have in the house, you have 6 mos. to 1 year to redeem. Don't wait, there are no exceptions once the redemption period has run. For more info, please contact my office at (248)851-3171.