Michigan homeowners facing foreclosure may still be able to save their houses—but only if they take swift legal action. A Hazel Park, MI, foreclosure lawyer can help you learn about options available based on your situation and the amount you owe and take steps to keep your house.
We know foreclosure is scary, and you likely have many questions. We have answers. At Gudeman & Associates, P.C., we work with families like yours to negotiate strategies to help you keep your house or avoid the negative impact of foreclosure on your credit score. Call us today to learn more.
How Does the Foreclosure Process in Michigan Work?
A foreclosure is the legal process a mortgage lender takes to recover the outstanding loan amount by seizing and selling the property. When a borrower is in default, missing several payments in a row, the lender has the right to start foreclosure proceedings.
In Michigan, a home may enter into foreclosure in several situations, such as:
- The borrower has missed multiple mortgage payments in a row. Some lenders start the process with just two missed payments, while others permit up to six months before foreclosing on the home. If you’ve received a notice of default from a Michigan court, then your house may be under threat of foreclosure.
- You owe back taxes on the house. Federal, state or even local agencies could initiate a tax sale to recover the debt.
Your window to act is short – call our firm today.
What Can a Hazel Park Foreclosure Lawyer Do To Help Me?
A lawyer may be able to help stop a foreclosure, giving you some breathing room and advice on how to stay in the house. In some cases, it may be too late to save the home, but an attorney can still handle the proceedings to allow you to preserve your credit score and find a new place to live.
Filing bankruptcy may be an option, which gives you an automatic stay of foreclosure proceedings. It can also help reduce your mortgage and other debts, freeing up a little extra money to help you make your mortgage payments on time again.
If bankruptcy seems like an extreme step to you, we may explore other options. A lawyer could negotiate lower monthly payments on your behalf so that you can keep paying the loan or petition your lender for a foreclosure.
We can also help you in court, defending your rights and protecting your interests. Your options are greater if you start early—if you’ve missed six months of payments, you may not have as many choices as someone who has missed two. Contact us today for swift action to prevent a foreclosure.
Facing Foreclosure? We Can Help!
You still have options, even if you’ve already received a notice of foreclosure or a Sheriff’s Sale. The legal team at Gudeman & Associates, P.C., can help you understand your rights and negotiate a solution to help you achieve the best possible outcome. Contact us today for a personalized consultation with a skilled Hazel Park foreclosure lawyer.
