---

In the State of Michigan is it possible to extend the redemp

Author	Message
	Add to del.icio.us Add to YahooMyWeb Add to Simpy Add to BlinkList
kaplandave Joined: 03 Dec 2007 Posts: 1 1.33 Dollars($)	Posted: Mon Dec 03, 2007 11:48 am    Post subject: In the State of Michigan is it possible to extend the redemp Like 0 Dislike 0 I have a redemption period that expires on 1/7/08 which is 6 months after the sale date from GMAC. Can this be petitioned or extended?
Jonny Guest	Posted: Mon Dec 03, 2007 12:18 pm    Post subject: Like 0 Dislike 0 In Michigan redemotion period closes in 6 months. But I donot know whether it can be extended or not.
larry Joined: 27 Jun 2007 Posts: 3322 474.67 Dollars($)	Posted: Mon Dec 03, 2007 12:25 pm    Post subject: Like 0 Dislike 0 Hi kaplandave, Welcome to this forum. Generally in Michigan redemption period expires in 6 months. But in certain circumstances, it can be one year. You have said that your redemption period has been fixed on 1/7/08. In spite of that you can talk with the real estate attorney and see if the redemption period can be extended or not. Thanks, Larry
Felicia Randall Guest	Posted: Wed Jan 21, 2009 12:16 pm    Post subject: Redemption period Like 0 Dislike 0 The redemption period in Michigan is 6 months unless the property is larger than 3 acres or the owner has more than 50% equity in the property. Then the period is 12 months. The bank can go to court and ask for the period to be shortened to 30 days by declaring the house as abandoned (no one lives in, no one trying to sell, no utilities on, etc)
RHONDA Guest	Posted: Wed May 20, 2009 7:47 pm    Post subject: REDEMPTION PERIOD Like 0 Dislike 0 I HAVE A LETTER FROM MY MORTAGE COMPANY SAYING THAT THEY ARE TRYING THE GET THE REDEMPTION PERIOD SHORTENED .IF YOU ARE IN BANKRUPTSY CHAPTER 7 CAN THE REDEMPTION PERIOD OF 6 MONTHS BE SHORTEND IF YOU ARE STILL LIVING IN THE HOME
savior70 Joined: 25 Mar 2009 Posts: 1895 Location: Florida 261.84 Dollars($)	Posted: Fri May 22, 2009 6:39 am    Post subject: Like 0 Dislike 0 Hi The mortgage company does not have a right to the property till the redemption period is over. So, they cannot take possession of the property during the redemption period. They can't even reduce the period of redemption unless you abandone the property. If you move away from the property, they can file an abondonement affidavit and reduce the time period.

Quick Reply
Your Name
Subject
Image Verification	Enter the code above here : Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours

Page 1 of 1

---

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0