Stop your foreclosure and keep your home!
If you live in Michigan and are behind on your mortgage payments or property taxes, you may receive letters stating that your home is going into foreclosure. This can be downright scary! After all, you probably live there with your family and if you are forced to leave you’ll have no place to live!
Don’t worry, we’ve helped numerous people and we can help you!
The best way to get help is to fill out the form or contact us immediately to set up a free consultation.
The Michigan foreclosure process can vary depending on if the type of foreclosure. Is it due to missed mortgage payments or overdue property taxes or a judgment? The key is to determine either the sheriff sale date if the property is being foreclosed due to missed mortgage payments or the last day to redeem foreclosed property if the property is being foreclosed due to back property taxes.
Once these key dates have passed, your options dwindle significantly.
Typically, the best way to stop a foreclosure and keep your home in Michigan is a Chapter 13 bankruptcy. A Chapter 13 bankruptcy will stop the foreclosure because of the automatic stay that goes into place immediately upon the filing of the case. A Chapter 13 will then allow you to get caught up on your mortgage payments or property tax arrears via a payment plan over the course of three to five years.
Your payment plan will consist of your currently monthly mortgage, or property tax payment, plus some portion of the past due amounts.
The Chapter 13 allows you and your family to stay in your home and catch up on all your payments.
What if I can’t afford my house payments?
Even if you can’t afford your house payments there may still be other options for you. The key is going to speak to a foreclosure professional immediately. Remember, time is of the essence when you are talking about a foreclosure and you do not want to miss any of the key dates!