Michigan Foreclosures Legal Questions

That creates a legal nightmare for the mortgage company IF your name was on the deed when your grandmother was granted the mortgage AND you did not sign the agreements. The mortgage company screwed up in that case. If you DID sign it, then you must give up the property. ALSO if you were added as a "possible" heir under a Lady Bird Deed, your grandmother's grant of the mortgage supersedes your interests in the property.... Read More

It depends. When did you mother-in-law pass? How long ago? Was a probate estate opened? If it was some time ago (more than 6 years) then there is no possibility of a creditor taking money. Your husband would not be liable to any creditor for any more than the amount he received from the "unclaimed property", if any. Otherwise, there is no downside for your husband to claim the funds.... Read More

A little more information is required to be able to advise you on this matter. IF, assuming your old second is still the same one that was discharged, then they are precluded from collections unless you reaffirmed that debt in the bankruptcy case. AND, your statement that the second won't refinance because of the First's lien doesn't make sense because the First always has priority over a second, hence the names First and Second.... Read More

If your landlord is in foreclosure and you rent a house or apartment from your landlord, you are still protected by the lease you have on the property. A foreclosure proceeding against your landlord does not create an action against you personally. If the house is foreclosed, the new owner has to recognize your lease agreement that you had with the previous owner. If you do not have a lease agreement and you are a tenant at will, then you're technically not in any different situation as a tenant at will to be evicted at any time. Many people who purchase properties at auction, are doing so for investment purposes and most likely will not even want you to leave.   I have responded to your inquiry according to the laws of Massachusetts, where my firm is located. Laws can vary significantly from state to state and cases tend to be rather fact-specific, so you are best served by consulting with a knowledgeable attorney in weighing your options. Email messages/Online Correspondence are akin to conversations and do not reflect the level of analysis applied to formal legal opinions. Email/Online responses do not form an attorney-client relationship.    Joseph F. Botelho, Esq. BOTELHO LAW GROUP Attorneys At Law www.botelholawgroup.com 901 Eastern Ave.  Unit 2 Fall River, MA 02723  Office:  888-269-0688 FAX:    877-475-8147... Read More

If you fall behind in land contract payments the seller's remedy could be one of several choices. First, he could simply evict you and take back the property. Second, he could foreclose on you and offer you the opportunity to pay off the note and own the property. Third, he could file a court action against you and seek a money judgment. In that instance, he could, with the court's approval, garnish your wages to secure performance of the land contract. More than likely, the seller would simply file for eviction and take back the property and you would lose all money you have paid so far.... Read More

The lender on the foreclosed home may try to sue you for a deficiency arising from the first home. If so, a judgment would probably attach to your new home if the lender records it. I would wait until you see what happens on the foreclosure. Unless the lender will give you a waiver of deficiency, it has at least 6 months to sue you. I would ask the lender for a deficiency waiver. Also, when you get the new home make sure to record a homestead declaration.... Read More

You can sue him, but you will need to prove damages. In other words, did you have any expenses as a result of his wrongful conduct. Or, did you experience emotional distress, anxiety, etc. If so, you will need to prove it by showing that you visited a Dr. for counseling, treatment, medicine, etc.... Read More

You need to consult with an experienced consumer protection lawyer who specializes in stopping foreclosure. If foreclosure has begun, it can be stopped, depending on several factors including when it began, the lender who is foreclosing and your financial situation. However, the ownership seems to be at issue. You say you have been "awarded" the house and I would need more explanation regarding this. In sum, immediate action is usually best when you are involved in a foreclosure.... Read More

I am a little confused when you say that you are on the security deed, but then state that your husband is on the mortgage alone. Usually in Nevada, the security deed is a mortgage. There may have been a deed to you followed by a deed of trust in favor of the lender which was signed only by your husband. You could refinance if you can convince the lender that you have the income to make the new payments and qualify for the loan. That is really a question of lender policies, not law. If the current lender won't refinance, then look for new financing. You will need to get the property in your name only by filing a death certificate and affidavit terminating joint tenancy (if you held it in joint tenancy) or by filing a probate proceeding.... Read More

A quitclaim deed gives you only the interest the grantor had. If there was a lien on the property when you purchased it, you purchased it subject to the lien. You have no claim against the seller. You should have required title insurance or at least check title at the courthouse when you bought it. However, check the type of lien before you get too upset. For example, a construction lien is meaningless if it is not foreclosed on within one year. Many people also file illegitimate liens that have no effect but may take some effort to remove. If the lien is for a significant amount, consult with an attorney.... Read More

Whether the options of "walking away," attempting to negotiate for a loan modification, or pursuing chapter 13 bankruptcy would be the best option for your situation is a function of a number of different factors.  The most important two are generally the strength of your desire to keep your house and the amount of debt you can pay.  Chapter 13 bankruptcy is for individuals who can may payments (i.e. who have income) on a repayment plan put in place by the trustee.  In some situations, this may allow you to keep your home.  But whether it is feasible in your particular situation will depend on many things.  With regards to your last question, Michigan is one of the majority of states that allow for a "deficiency judgment," which is a judgment for the amount of the difference between what a foreclosed home is sold for and what is still owed on the loan. So if you walk away, the bank will absolutely be entitled to pursue a deficiency judgment against you.  Whether they actually do pursue this will depend on how much is owed, but if a substantial amount is owed, they likely will.  You have a number of different options in these situations, it would be beneficial for you to contact a local attorney. ... Read More