Charles J. Schneider, P.C.certified consumer bankruptcy specialist
forms for your office visit
call today 734-237-1523
Practice Areas Menu In This Section

An introduction to foreclosures in Michigan

For the majority of people, their home is one of their most valued possessions and they often work very hard to make sure that they are able to keep it. There are many different options for people who are having trouble affording their homes, but one of the most common options is a mortgage.

A mortgage is essentially just a loan specifically used to pay for their home, but if they are unable to make their mortgage payments, their home may be foreclosed.

Foreclosure in Michigan

If a homeowner fails to make their mortgage payments, the institution from whom they borrowed the funds for their mortgage may take possession of the property. This process of possession is known as foreclosure. In the state of Michigan, there are two main types of foreclosure; judicial and nonjudicial.

· Judicial foreclosure - This is when the lender officially files a lawsuit in order to foreclose the property in question.

· Nonjudicial foreclosure - These are foreclosures that are done outside of a court. They are also the most common type of foreclosure in the state of Michigan.

Once the lender has decided to foreclose a property, they are required to do certain things in order to ensure that the process is legitimate. They must,

· Publish a notice of sale in a newspaper at least once a week for a month.

· Post a copy of the notice of sale on the foreclosed property where it will be seen.]

While the lender is not generally required to send a notice of sale to the borrower, they are usually required to provide the borrower with a 30-day notice of default before they officially begin the foreclosure process.

Right of redemption

The state of Michigan allows borrowers to repurchase their home from the lender if they do so within certain amounts of time. The amount of time the borrower has to repurchase their home depends on the amount they still owe the lender and they amount of time they have been away from the house.

· If the home was abandoned, they borrower has a single month.

· If the borrower owes more than 2/3rds of the loan amount, they have 6 months.

· If the borrower owes less than 2/3rds of the loan amount, they have a year.

Regardless of the situation, the complexities of real estate law and bankruptcies often make these types of situations feel overwhelming and impossible to resolve. Luckily, there are legal professionals who are experts when it comes to these matters and they will be able to work with you as you work through the legal process.

If you find yourself in a situation wherein you are facing foreclosure, it is highly recommended that you seek out the services of an experienced and knowledgeable legal professional.

No Comments

Leave a comment
Comment Information
  • rating

    Posted by MaryDecember 11, 2015

    "I am overwhelmed by your response to my call, even 10 years after my bankruptcy was discharged. You have more knowledge and expertise than I could have imagined. Because of you, my fears have been put to rest. For that, I'm so very grateful. Thank you many times over. "

  • rating

    Posted by ClientOctober 26, 2010

    "... I was extremely impressed with Charles' understanding of the bankruptcy laws to the extent that I felt certain that my best interests were always at the forefront. "

  • rating

    Posted by MarleneJanuary 8, 2014

    He helped me thru my 1st bankruptcy and now the second. I had no idea what to expect , but they kept me informed and answered all my questions. Mr. Schneider is the most experienced and knowledgeable lawyer I have ever met. If you have to file call this attorney first!

  • Avvo Rating 10.0 superb | Top Attorney Bankruptcy
  • Rated By Super Lawyers Charles J. Schneider | visit | super lawyers 2011-2015
  • Avvo Ratting 10.0 superb Top attorney chapter 7
  • Avvo clients' choice 2014 | chapter 7
  • American board of certification | certified consumer bankruptcy specialist
  • AV lexisNexis Martindale-Hubbell Peer Review Rated for ethical standards and legal ability
email us for a response

Let us evaluate your situation
and identify solutions

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy