Michigan Judicial Foreclosure Lawyers

If you have received a complaint from your mortgage company saying that they plan to foreclose on your property unless you pay them (money that you do not have), we can help. At Acclaim Legal Services, we provide experienced foreclosure and bankruptcy representation from attorneys who have dedicated their legal careers to helping clients find debt relief.

We understand the new Michigan foreclosure laws and how they affect individuals and families who are financially overwhelmed. Contact our law office for a free consultation about the options available to you to prevent or stop judicial foreclosure.

Michigan's Judicial Foreclosure Process

Since Michigan changed its foreclosure laws in 2009, more and more mortgage companies are choosing judicial foreclosure over the quicker "foreclosure by advertisement" process. Judicial foreclosure is a lengthy process:

• The mortgage company files a complaint in Circuit Court and with the borrower stating the reasons for foreclosure
• The borrower can send a response to the court and mortgage company within 21 days of receiving the complaint
• The court will decide whether or not you are in default. If it decides you are in default, it will enter a deficiency judgment against you and order foreclosure of your home.
• The foreclosure process, including publication, begins six months after the mortgage company files the complaint to foreclose on your home.
• The Sheriff will hold a public sale of the property.
• A borrower will then have approximately six months to redeem the property.

Judicial and Non-Judicial Foreclosure

There are benefits and pitfalls for Michigan individuals and families who face judicial home foreclosure compared to those facing foreclosure by advertisement. The largest benefit is that you will be able to stay in your home for more than a year and have that time to come up with the finances to pay for your home. This is a greater time period than in the non-judicial foreclosure process. Unfortunately, if you do not come up with the money, you will not only lose your home and be liable for deficiencies between the mortgage and the sales price, but you will have a legal judgment against you l.

Our Michigan foreclosure and bankruptcy attorneys will help you sort through the complex judicial foreclosure process and explain remedies to avoid foreclosure, stop foreclosure or redeem your property.

Redeeming Your Property After Notice of Foreclosure

At any time before the house sale is final, you can pay the principal loan on your home plus interest to get your home back. You may also sell your home before the redemption period expires.

However, most people who face foreclosure do not have the financial ability to pay for their home and have difficulty selling it. If you are in this situation, you may be able to file for Chapter 7 or Chapter 13 bankruptcy and/or try to negotiate a loan modification.

Benefits of Bankruptcy

Through Chapter 7 or Chapter 13 bankruptcy, you may be able to keep your home and eliminate or reorganize the deficiency judgment against you. Filing bankruptcy anytime before the court-ordered sheriff sale occurs will stop foreclosure. The court's deficiency judgment is an unsecured judgment. This means that it can be a part of the debt eliminated in Chapter 7 or reorganized through Chapter 13.

Stop Judicial Foreclosure. Contact Acclaim Legal Services.

To discuss your options to avoid judicial home foreclosure, contact Acclaim Legal Services to arrange a free consultation with a foreclosure prevention lawyer. We have offices in Southfield, Flint, Dearborn, and Warren, Michigan. Call 866-438-5217.