Category Archives: Foreclosure

What Is My Redemption Period in Michigan if I Have More Than 3 Acres of Land?

Posted on February 6, 2012 | 1 Comment

As of December, 2011, the amount of acreage owned is no longer a factor in determining the length of the post-foreclosure sheriff’s sale redemption period in Michigan. Prior to December, 2011, foreclosure of land more than 3 acres required a “redemption period” of 12 months as opposed to the 6 months required for non-abandoned property of less than 3 acres.  

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Posted in Bankruptcy, Bankruptcy Laws, Bankruptcy Process, Chapter 13, Chapter 7, Eviction and Bankruptcy, Foreclosure, Home Mortgages and Bankruptcy, Michigan, Real Estate

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How Can I Save My Home with a Chapter 13 Bankruptcy?

Posted on January 9, 2012 | 1 Comment

While Bankruptcy is one of the most cost-effective and efficient legal means of walking away from an underwater or foreclosed home available, it is also, under the right circumstances, a better means of saving a home in danger of foreclosure than other non-bankruptcy strategies, such as mortgage modification.

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Posted in Bankruptcy Process, Chapter 13, Foreclosure, Home Mortgages and Bankruptcy, Michigan, Mortgage Modifications, Real Estate, Short Sales

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Home Short Sale After Chapter 7 Bankruptcy: Why They Often Don’t Go Together

Posted on September 19, 2011 | 1 Comment

Guest Post by Atlanta Bankruptcy Attorney Peter Bricks.

I am often surprised how many chapter 7 bankruptcy debtors who want to file bankruptcy just before a foreclosure sale to stop the sale, ask the following question: Can I short sale my house after I file bankruptcy?

Although it can be done, it rarely makes sense. The reason is because a home mortgage short sale after filing chapter 7 bankruptcy rarely makes sense.

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Posted in Foreclosure, Property, Real Estate, Short Sales

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Can a Chapter 7 Bankruptcy Trustee Sell My House after My Case Discharge?

Posted on August 30, 2011 | 1 Comment

The practice of a Chapter 7 bankruptcy Trustee seizing and selling real estate after it is surrendered in bankruptcy and then sold at foreclosure sheriff’s sale is a phenomenon may be primarily local to the Detroit, Michigan bankruptcy courts. However, it has become more and more common for a Chapter 7 bankruptcy Trustee, in this area, after a case has been discharged, to re-sell real estate that has been surrendered in the bankruptcy in order to gain proceeds from the sale that may be distributed to a bankruptcy debtor’s creditors—and, of course, net a percentage “fee” for the Trustee.

How is this possible?

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Posted in Chapter 7, Foreclosure, Home Mortgages and Bankruptcy, Michigan, Property, Real Estate, Tax debt, Uncategorized

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