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Experienced Foreclosure Attorney in Plymouth, Michigan
Are you or someone you know facing foreclosure in the Metro Detroit Area? Don’t wait until it’s too late to seek legal assistance. Aldrich Legal Services is here to help. Our experienced attorneys have a track record of successful foreclosure defense and can help protect your assets and preserve your rights.
At Aldrich Legal Services, we know the stress and uncertainty that comes with the threat of foreclosure. We offer effective legal representation to guide you through the process. No matter what your situation may be, our team of experienced attorneys is dedicated to helping you find the best solution for your individual needs.
From negotiating with lenders to exploring alternative solutions, our team will work tirelessly to help you keep your home. Contact us today to schedule a consultation and take the first step towards a brighter financial future.
Mortgage Foreclosure Services We Offer in Michigan
Foreclosure can be a complicated and overwhelming process. If you’re facing one in Michigan, it’s important to know that you have legal options, and our team of legal experts is here to help protect your home and your rights. Here are some of the foreclosure legal services we offer:
Frequently Asked Questions About
Mortgage Foreclosures in Michigan
Michigan primarily uses two types of foreclosure: judicial foreclosure and non-judicial foreclosure. Judicial foreclosure involves a court proceeding, while non-judicial foreclosure allows the lender to sell the property without going through the court system.
The foreclosure process in Michigan typically follows these steps:
- Default on mortgage payments
- Notice of default and acceleration
- Pre-foreclosure redemption period
- Non-judicial foreclosure (advertisement of sale) or judicial foreclosure (filing of lawsuit)
- Sheriff’s sale or public auction
- Redemption period after the sale
- Eviction, if necessary
The foreclosure process can vary in length, but it typically takes around six to twelve months from the time the borrower stops making payments until the property is sold at a foreclosure auction.
The redemption period in Michigan is the time during which the borrower can redeem or buy back the property after a foreclosure sale. The length of the redemption period varies depending on the type of property and the circumstances surrounding the foreclosure. It can be as short as 30 days or as long as one year.
In Michigan, lenders can sue borrowers for the deficiency balance, which is the difference between the foreclosure sale price and the remaining mortgage balance. However, deficiency judgments are not automatic and depend on the lender’s decision and the specific circumstances of the foreclosure.