You missed a mortgage payment, and then you missed another. Now, you’re receiving mail at your home in Warren, Royal Oak or Detroit, and it reads less like correspondence and more like a threat. If you’re staring at a “Notice of Default” or a “Notice of Foreclosure Sale,” your first instinct might be to […]
For many homeowners in Southeast Michigan, the word “foreclosure” feels like a finality. If you’ve fallen behind on payments, you might feel like you’re just waiting for the inevitable knock on the door. But in Michigan real estate law, there is a powerful emergency brake that most people don’t realize they can pull. It’s called […]
If your business is struggling, you may be considering the different options you have to dig yourself out of a hole. Depending on your specific situation, you may be wondering whether business bankruptcy is the right avenue for you. But, how can you tell? Sometimes, you may just be experiencing a cash flow crisis […]
Just like individuals have debt, so, too, do businesses. At times, the business may have trouble repaying its obligations, which can lead to collection efforts from creditors. In the pre-litigation stage, creditors may issue demand letters and make collection phone calls to try to recover the amount owed. This is a common occurrence for things […]
Everyday costs continue to increase, making affording life more difficult for Michigan households. With cards, housing, healthcare and other everyday necessities adding up, experiencing one missed paycheck or “blip” in income can quickly become a tipping point for a family’s finances. Oftentimes, people who are facing financial difficulties wait too long to take action. They […]
Junk fees that mortgage servicers charge Michigan homeowners are not just an annoyance; they are a major foreclosure problem. By increasing costs and charging exorbitant fees and interest, servicers are making it harder for people to afford their homes — all at a time when the cost of homeownership continues to rise across the country. The […]
Facing a foreclosure can be scary, but it doesn’t mean that you will automatically lose your home. There are steps you can take to stop a Michigan sheriff’s sale to reclaim your home and remain in it. The first step in doing so is figuring out whether you’re facing a mortgage sheriff’s sale or a […]
Facing foreclosure can be a challenging experience for any homeowner. Just because your home is being foreclosed on, though, does not mean you do not have any rights. Regardless of what type of foreclosure you’re facing — either a mortgage foreclosure or tax foreclosure — there are steps that must be taken and rules that must […]
The COVID-19 pandemic had massive economic implications across the country, many of which are still being felt today. Millions of homeowners fell behind on their mortgages, and while they received temporary relief through federal sponsored programs and legislation, those moratoriums have since ended. In that time period, there’s been a surge in confusion surrounding […]
Financial difficulties can lead to major problems and headaches if you’re unable to make payments. This is especially true with mortgages, as lenders can foreclose on borrowers homes and take possession of them once repayments are missed. Part of the foreclosure process in Michigan involves a Sheriff’s Sale, during which the home is put […]
