Michigan Bankruptcy Blog

Does Filing a Bankruptcy Extend My Post-Foreclosure Redemption Period?

Does Filing a Bankruptcy Extend My Post-Foreclosure Redemption Period?

Filing a Bankruptcy Will Extend a Redemption Period—But For Who? What Is Michigan's Redemption Period? The "redemption period" is the time allowed homeowners (and other property owners) under Michigan law to "redeem" property that is foreclosed and sold at foreclosure auction or sheriff's sale to the highest bidder. "To redeem" means that the homeowner whose property is foreclosed pays to the winning sheriff's sale bidder whatever amount of money the winning bidder bid at the sale, after ...

Posted on March 7th, 2016 by John Hilla - Michigan Bankruptcy Attorney in Michigan Bankruptcy

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Changes to Michigan’s Foreclosure Redemption Period

Kiss Your Privacy Goodbye   Michigan's Foreclosure Redemption Period: New Duty to Allow Inspections It used to be the case under Michigan law that you were entitled to a 6-month "redemption period" following a foreclosure sheriff's sale, during which period of time you could continue to reside in your house as you always had. It was a period of time that Michigan law granted foreclosed homeowners in order that they might be able to obtain the financing necessary to ...

Posted on October 7th, 2013 by John Hilla - Michigan Bankruptcy Attorney in Michigan Bankruptcy

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