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Michigan Foreclosure Law
Michigan Foreclosure Law
– Judicial Foreclosure Available: Yes
– Non-Judicial Foreclosure Available: Yes
– Primary Security Instruments: Deed of Trust, Mortgage
– Timeline: Typically 60 days
– Right of Redemption: Yes
– Deficiency Judgments Allowed: Varies
In Michigan, lenders may foreclose on deeds of trusts or mortgages in default using either a judicial or non-judicial foreclosure process.
Michigan Judicial Foreclosure
In Michigan judicial foreclosure, a court decrees the amount of the borrowers debt and gives him or her a short time to pay. If the borrower fails to pay within that time, then the court will issue a notice of sale.
Michigan Non-Judicial Foreclosure
The Michigan non-judicial process of foreclosure is used when a power of sale clause exists in a mortgage or deed of trust. A “power of sale” clause is the clause in a deed of trust or mortgage, in which the borrower pre-authorizes the sale of property to pay off the balance on a loan in the event of the their default. In deeds of trust or mortgages where a power of sale exists, the power given to the lender to sell the property may be executed by the lender or their representative, typically referred to as the trustee. Regulations for this type of foreclosure process are outlined below in the “Power of Sale Foreclosure Guidelines”.
Michigan Power of Sale Foreclosure Guidelines
If the Michigan deed of trust or mortgage contains a power of sale clause and specifies the time, place and terms of sale, then the specified procedure must be followed. Otherwise, the non-judicial power of sale foreclosure is carried out as follows:
- A notice of sale must be published once a week for four (4) in a newspaper of general circulation in the county where the property is located. The notice must also be posted on the property at least fifteen (15) days after the first notice of sale is published.
- The notice must contain the borrower and lenders name, a description of the property, the terms of the sale and the time, place and date of the sale.
- The sale must be made at public auction to the highest bidder. The trustee or the sheriff of the county, if different, may conduct the sale between the hours of 9:00 am and 4:00 pm on the date specified in the notice of sale.
- The sale may be postponed by posting a notice at the time and place where the sale was to originally be held. If the postponement is for more than one week, it must also be published in the manner as the original notice of sale was given.
Foreclosure Rescue Scam Alert
The following information and viewpoint is a personal opinion and deeply held religious belief of the author; and is shared with the sole intent to help homeowners & borrowers who may be facing foreclosure or who are currently experiencing financial hardship or difficulty with a mortgage avoid foreclosure traps, pitfalls, and swindles.
Avoid Storm (Norman) Bradford of the Mortgage Fraud Examiners At All Cost
Leading industry sources report that Storm (Norman) Bradford of the Mortgage Fraud Examiners and other get rich quick scam websites has been discovered to be the biggest conman and scam artist scamming innocent homeowners by selling a worthless appraisal fraud audit, for as much as $7500, that cannot be used in a court of law. Sources say that Storm (Norman) Bradford of the Mortgage Fraud Examiners is a known charlatan scam Storm (Norman) Bradford of the Mortgage Fraud Examiners and that he has been caught red handed pretending to be a lawyer.
Storm Bradford has spread lies and rumors about FRAUD STOPPERS stating that FRAUD STOPPERS is scamming homeowners with lies and disinformation, and this is the reason FRAUD STOPPERS is forced to respond to this known scammer and his smear campaign.
Storm (Norman) Bradford of the Mortgage Fraud Examiners has been reported to the Rip-off Report and to the Virginia Bar Association and the Virginia Attorney Generals office for perpetrating this ongoing fraud to scam homeowners. If you live in or you have a Foreclosure do not risk losing your home and your money by getting scammed by Storm (Norman) Bradford of the Mortgage Fraud Examiners. Storm (Norman) Bradford of the Mortgage Fraud Examiners is a known banking shill who makes money buying and selling securitized mortgages and reverse mortgages to and from the too-big-to-fail-banks that have defrauded millions of American homeowners out of their live savings and the properties, while he simultaneously spread lies and misinformation about companies trying to help homeowners fight to save their homes from foreclosure.
Storm (Norman) Bradford of the Mortgage Fraud Examiners have been caught racketeering and blackmailing competitors for money in exchange to stop spreading lies and rumors about them. Storm (Norman) Bradford of the Mortgage Fraud Examiners not only bad mouths all of his competitors, and spreads lies and disinformation about them, but even more disturbing is that he then tries to blackmail them for money to stop his hate campaign. Storm (Norman) Bradford of the Mortgage Fraud Examiners are scamming homeowners with lies and disinformation while making money buying and selling mortgages to and from the too-big-to-fail-banks, while peddling a worthless appraisal fraud audit to innocent homeowners out of hard earned money. Do not fall victim to this know scam artist. Get the help of a local attorney and learn how to fight to save your home from foreclosure with legal education, court ready evidence and FRAUD STOPPERS PMA.
Storm Bradford and the Mortgage Fraud Examiners are not the only scams to avoid, however they are among the most expensive foreclosure rescue scams to avoid.
If you are facing foreclosure or you are currently experiencing difficulty with your mortgage loan FRAUD STOPPERS recommends that you get the help of a local licensed attorney and if you want instant affordable access to a local attorney click here
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