Foreclosure in the Ann Arbor Area

Is governed by Michigan law. If you miss payments on your mortgage or land contract, your could find yourself in forfeiture or foreclosure. The mortgage holder or land contract seller can initiate a legal action in Circuit Court to foreclose on your home. The proper court is the one in the county where your home is located. If you are served with a summons and complaint for foreclosure from a court in a different county, consult an attorney! You may be able to have the lawsuit moved to the country where you live. For a brief summary of landlord tenant matters in Michigan, visit the Michigan Courts self-help website.

Ann Arbor Homes Must be Foreclosed in Washtenaw County Circuit Court

The complaint filed against you must clearly state the default that led to the foreclosure. The property being foreclosed upon must be described specifically - usually this means the legal description found on the title. On a land contract foreclosure, the seller must “accelerate” all amounts due on the contract. This means they declare all future amounts due (they can do this because of some fine print in your contract). A great way to get familiar with the basics of foreclosure is to read the Wikipedia article on Foreclosure.

Did You Know?

The Circuit Court cannot issue a judgment for possession of your Ann Arbor home in foreclosure until three months after the complaint was filed. Keep in mind that because foreclosure is an “equitable” remedy, the court can fashion a remedy that is appropriate under the circumstances. It will usually include the amount you are liable for, as well as some details about the sheriffs sale, and how long you have to redeem (buy back) your property. There are some excellent resources for those at risk of foreclosure at the State of Michigan Save the Dream site.

In Foreclosure? Click Here for a tip that may help save your home!