Michigan Report of Sale in Foreclosure

State:
Michigan
Control #:
MI-FORECL-02
Format:
PDF
Instant download
This website is not affiliated with any governmental entity
Public form

Description

This is an official state form to be used when selling a house in foreclosure. It is used to provide proof that the sale requirements were followed and allows the plaintiff to show al expenses of publication, posting, sale, and recording to determine the amount applied to a judgment.

How to fill out Michigan Report Of Sale In Foreclosure?

Have any template from 85,000 legal documents such as Michigan Report of Sale in Foreclosure online with US Legal Forms. Every template is prepared and updated by state-accredited legal professionals.

If you have already a subscription, log in. When you’re on the form’s page, click on the Download button and go to My Forms to access it.

If you haven’t subscribed yet, follow the tips listed below:

  1. Check the state-specific requirements for the Michigan Report of Sale in Foreclosure you need to use.
  2. Look through description and preview the sample.
  3. When you’re confident the template is what you need, just click Buy Now.
  4. Choose a subscription plan that works for your budget.
  5. Create a personal account.
  6. Pay in just one of two suitable ways: by card or via PayPal.
  7. Choose a format to download the document in; two ways are available (PDF or Word).
  8. Download the file to the My Forms tab.
  9. After your reusable form is downloaded, print it out or save it to your gadget.

With US Legal Forms, you’ll always have quick access to the proper downloadable template. The platform gives you access to documents and divides them into groups to streamline your search. Use US Legal Forms to get your Michigan Report of Sale in Foreclosure easy and fast.

Form popularity

FAQ

After foreclosure, you might still owe your bank some money (the deficiency), but the security (your house) is gone. So, the deficiency is now an unsecured debt.

If you've stopped paying your mortgage, you're allowed to remain in your home until the foreclosure process is completed. Once you reach the foreclosure sale date you go from being a homeowner to a tenant, as title legally passes from you to the new owner.

You can stop the foreclosure process by informing your lender that you will pay off the default amount and extra fees. Your lender would prefer to have the money much more than they would have your home, so unless there are extenuating circumstances, this should work.

More specifically, it's a legal process by which the owner forfeits all rights to the property. If the owner can't pay off the outstanding debt, or sell the property via short sale, the property then goes to a foreclosure auction. If the property doesn't sell there, the lending institution takes possession of it.

A court approval of a sale by a trustee, executor, administrator, guardian, or bankruptcy trustee. Sales contracts by such persons are always specified as contingent on court approval.

Sheriff Sale Held: The "Sheriff's Deed" lists the last date the property can be redeemed. Up until the Sheriff Sale has occurred, the homeowner may still submit a loss mitigation application.To redeem the property the borrower must pay the amount bid at the sheriff sale plus interest and fees.

However, you do not have to lose everything in a foreclosure. When faced with a foreclosure, there are things that you can be allowed to remove from the home. For example, you are allowed to remove personal property or anything else that's not considered part of the real estate.

A lender confirmation auction is a type of foreclosure sale in which the highest bid will only be finalized after it is approved and accepted by the mortgage holder. This differs from an absolute auction, in which the winning bidder automatically takes ownership of the property.

If a foreclosure sale results in excess proceeds, the lender doesn't get to keep that money. The lender is entitled to an amount that's sufficient to pay off the outstanding balance of the loan plus the costs associated with the foreclosure and salebut no more.

Trusted and secure by over 3 million people of the world’s leading companies

Michigan Report of Sale in Foreclosure