Blog Archives

Losing Redemption Rights in a Chapter 7

After most foreclosure sales in Michigan, the homeowners have the right of redemption for six months.  This means that they have an extra six months after the sale date before they have to move.  The homeowners can also use the

Posted in Foreclosure Law, Redemption

When is Chapter 13 the Better Option?

Some people want to repay their debt, but they are unable to afford the regular monthly payments. Others are behind on mortgage payments due to a temporary reduction in income. Some people have debt that is not dischargeable in a

Posted in Chapter 13 Bankruptcy, Creditors, Foreclosure Law

To Surrender or Not?

The decreased home values in the Detroit metropolitan area have prompted many people to seek a way to walk away from their homes and mortgages. However, the decreased home value shouldn’t be the only reason to surrender a home. I

Posted in Foreclosure Law