Redemption periods

Posted by Terry from Michigan on June 21, 2005 at 10:33:13:

Hi. just learning about the prosses of foreclosures
1. the local paper has 4 pager of forclosures every week.
2.took the name of the people and townsip they are in and got the information from the tax asseser (public knowledge)address, SEV, taxes and if taxes are payed to date.
3 wert to sheriff sale at the court house
(every Thursday at 10:00) every property had a minimum bid from the morgage Co. that holds the paper on the property.
4. No one bid on any of the propertys because of the
6 month redemption period.
Does anyone know if there is a way around the redemption period? If you do bid,you cant even get Insurance for that 6 months because you don't have a deed on the property. What am I missing?
Thanks Terry Saline MI.

Follow Ups:

• Re: Redemption periods - Nick(Colorado) 12:14:20 06/21/05 (0)
• Re: Redemption periods - Bill H 11:18:11 06/21/05 (3)
  • Re: Redemption periods - Steele in Minnesota 11:52:27 06/21/05 (2)
    • Re: Redemption periods - Bill H 19:42:22 06/21/05 (1)
      • Re: Redemption periods - Mark Cicero 16:55:15 06/24/05 (0)

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Comments:
:  Hi. just learning about the prosses of foreclosures
: 1. the local paper has 4 pager of forclosures every week.
: 2.took the name of the people and townsip they are in and got the information from the tax asseser (public knowledge)address, SEV, taxes and if taxes are payed to date. 
: 3 wert to sheriff sale at the court house
: (every Thursday at 10:00) every property had a minimum bid from the morgage Co. that holds the paper on the property.
: 4. No one bid on any of the propertys because of the 
:  6 month redemption period.
: Does anyone know if there is a way around the redemption period?  If you do bid,you cant even get Insurance for that 6 months because you don't have a deed on the property. What am I missing? 
: Thanks Terry Saline MI.

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