The foreclosure process can take a while in most states. In Michigan, mortgage companies can’t even begin the foreclosure process until a borrower is at least 120 days past due on their payments. Even then, a sheriff’s sale can’t be held for at least four weeks after the foreclosure notice is posted on the home’s […]
When individuals are facing economic struggles, they may proceed with filing for bankruptcy protection to get them back on the right foot. If these individuals are homeowners, the process gets a little more complicated. Chapter 7 bankruptcy allows individuals to not include their home and associated mortgage in the bankruptcy proceedings, provided they are current […]
When homeowners fail to meet the requirements of their mortgage, lenders will often proceed with a foreclosure to reclaim their property. This is done because the property itself is what’s used as the collateral to secure the loan. Until the borrower pays the loan off, the collateral — the property in this case — remains […]
Many people throughout the country obtain a mortgage to finance the purchase price of their home. Unless you have the cash to pay for the home outright — or other means of borrowing money — you will likely go the route of choosing one of the popular mortgage types that lenders make available. No matter […]
When someone purchases real or personal property, they typically will do so either in cash, on a credit card or as part of a larger loan such as a mortgage. If a secured loan is used to finance the purchase price, then the actual property itself is used as collateral. The most common example of […]
Properties can be repossessed by banks or other creditors under certain clearly-defined circumstances, which vary from state to state. While the processes of repossession and re-sale differ from one type to the next, the general premise for these repossessions being initiated is unpaid debt. Two of the most common forms of re-sale for repossessed properties […]
Cannabis has become big business in Michigan in a very short period of time. While the Michigan Regulation and Taxation of Marijuana Act was passed in 2018, the first sale of recreational marijuana didn’t take place in the state until December of 2019. In the first full year of recreational marijuana sale in 2020, overall […]
While many states in recent years have moved to legalize marijuana for medical or recreation purposes — or both — Michigan was actually the first one in the Midwest to legalize it on a recreational basis. In 2018, the Michigan Regulation and Taxation of Marijuana Act was signed into law, which made it legal for […]
Cannabis-related businesses can be extremely lucrative, but they also bring with them a lot of challenges that businesses in other industries don’t face. Even though both recreational and medical cannabis is legal in Michigan and many other states, for example, setting up shop is not as easy as it is for other industries. One of […]
An increasing number of states are moving forward with legalizing cannabis in some fashion. In Michigan, and in many other states, it is legal for most adults over the age of 21 to partake in medical and recreational marijuana. As such, an entire cannabis industry in Michigan has popped up over the last few […]
