What are my rights during my redemption
Posted by Sharon on July 25, 2007 at 12:27:06:
I live in Michigan. I got my mortgage in October 06. I lost my job in December and was strugling to make the payments. Jan I got a tenent to move in but his rent is only half of the mortgage payment. In April I stoped making my payments. My house is going to sherrifs sale in August. I have been in contact with the bank tying to execute a short sale. My house appraises for $150 000, I owe $139 000 and the short sale would be for $100 000. I am unable to refi because of credit. Recently my tenants started being harrased by people who represent the bank. They are going round to the house and saying that they are going to bring the baylif and put there stuff on the crub if I dont bring my loan current. If I cannot execute this short sale in 2 weeks and the house goes to sherrifs sale, what are my rights during my 6 month redemption period? Is the house technically still mine untill the 6 months are up? Are banks allowed to harrass me and my tenants like this. HELP!
Follow Ups:
- Re: What are my rights during my redemption - Ranita 15:33:39 08/07/07
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- Re: What are my rights during my redemption (url) - steele in minnesota 16:14:32 07/25/07
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