Re: What do i owe after foreclosure in Michigan
Posted by MIdh on February 22, 2006 at 18:56:30:
In Reply to: Re: What do i owe after foreclosure in Michigan posted by midh on February 22, 2006 at 18:53:57:
: : Why would you allow that to happen?
: : Presumably, the second mortgage lender would take the home, then try to sell it as quickly as law permits to payoff the first... and keep whatever is left. If there was a shortfall, they could come after you for the balance.
: : try to avoid that if at all possible. List and sell at fair market value... The home is not worth as much as what is owed. Possibly as much as 40,000...due to the second mortgage
- Re: What do i owe after foreclosure in Michigan - TheShortSalePro 06:45:35 02/23/06
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