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How long is the redemption period in the state of Michigan?

Posted on: 09th Apr, 2008 11:11 am
I am currently living in my mother's house. The house was in her name. She passed away on Feb. 16 of this year. I have not been able to purchase the house do to credit score and not having enough for down payment. I am being told that I have to leave today 4-09-08. Is there not a grace period or what is the law in the state of Michigan for a redemption period. please help if anybody has a suggestion
Welcome jlierman,

The redemption period in Michigan is generally 1 year but under special cases the period can be reduced to just 30 days.
Posted on: 09th Apr, 2008 09:42 pm
Hi jlierman,

Welcome to the forum.

Generally the lender will allow you 6 months for the redemption period in Michigan but Adonis has rightly said that it will not be less than 30 days and not more than 1 year according to the Michigan law.

Feel free to ask if you have any further questions.

Best of luck,
Posted on: 09th Apr, 2008 11:59 pm
In Michigan the redemption period extends for about 6 months from the date of the Sheriff Sale except when:

1. Your home isn't a four unit property
2. You owe less than 2/3rd of the debt

You can redeem the property only if you pay off the following:
  • Mortgage balance
  • Late fees
  • Attorney fees
  • Court costs
  • Title and appraisal costs
  • Taxes/home insurance if any paid by lender after the Sheriff Sale

Posted on: 10th Apr, 2008 02:53 am

There needs to be a lot of data gathered, Did your mother pass away during the foreclosure process or post foreclosure?. If your mother passed away during the foreclosure and you are the legal heir to the property and there is no will made out to hand the property to you, an estate needs to be opened and you will have to be served notice, typically in michigan foreclosure if non-judicial lasts for 68-72 days and foreclosures are normally on wednesday of every week(im not sure). after the foreclosure date you have 6 months to pay back amount at sale + all costs. if the owner of the property vacates the property within 6 months , then lender can file abandonment and acquire the property in 30 days by posting a notice.

The important questions who now owns the property and while lender was proceeding with foreclosure who owned the property?. What kind of a loan was it was it a reverse mortgage?
Posted on: 10th Apr, 2008 03:29 am
Welcome MKnight,

The original poster may get the ownership by filing the Affidavit of Heirship to get the ownership. You are right in thinking the property may have a reverse mortgage since it belongs to his mother.

Hey MKnight, you seem to have good knowledge about estate and foreclosure. Feel free to share your knowledge with the community. There are different kinds of professionals in this community who share their opinions in this forum. So you too can join this community and be a part of it just as they are.
Posted on: 10th Apr, 2008 03:54 am
If date of redemption is 12/14/10 and we haven't recieved any letters from mortgage company how long do we have
Posted on: 20th Sep, 2010 03:23 pm
Welcome Sherri,

You should contact your lender and ask him to send the redemption letter immediately. The letter will mention the time period within which you need to redeem the property.
Posted on: 21st Sep, 2010 01:29 am
real estate was suppose to pay the taxes out of my mortgage, they did not now house is in forfiet and traxes are backed up. What do i do? how long can I stay because i dont have 9,000 dollars. its also in mt contract that they pay it?
Posted on: 18th Nov, 2011 07:19 am
Hi lorene,

Your query has been replied to in the given page:

Please take a look at it. I hope it will help you.

Posted on: 18th Nov, 2011 07:32 pm
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