Upcoming Foreclosures

What can a person do if they are facing foreclosure in Michigan.?

They have lost their jobs and can't make a mortgage payment. Are there programs out there to help?

Public Comments

1. Surprised more people don't meet the guy at the door with a shot to the face. If they are gonna take everything you own, what's the use living anyway?
2. some states have got stimulus money to aid those that are facing this.......... suggest you look into it quickly..........
3. Wow. I am so tired of hearing this, it just makes me sick. As far as programs, I'm not aware of any. If they can rent out the house, that might be an option, and the bank might relent on the foreclosure due to renters paying the mortgage. Also if your friends can quick sale the house, that might be an option. Short of that, I have heard that an awful lot of people are using a little known law to stop foreclosures, or at least put them on hold. It's called Produce the Note. All debts have to be verified as valid and real. In other words, if you have a debt on your credit report, and the creditor cannot prove it is yours, it must be removed by law and you no longer owe the debt. In the same fashion, if the bank cannot produce your signature on the loan documents -- and it might have to be the original signatures and documents -- and they cannot prove that the debt is yours, then you no longer owe the debt. It's almost like going into court and saying, Hey, I paid that off last year. If you can't prove that I owe the debt, then you can't collect the debt, period. What has happened for years is that Bank A loans you money to buy a house. Bank A bundles that loan with, say, 50 other loans and sells those loans to Bank B. Bank B comes along and sells those notes to Bank C, and after awhile, no one knows who actually holds the note. There was a big thing all across the airwaves earlier last year, on numerous news outlets, about this very thing. There have been people who challenged the bank to produce the note, the bank could not, and then suddenly they were free and clear. Now I am not saying this will work. It is possible that the banks have sewn up this little issue. It's also possible that there are so many loans out there that the banks have no way to sew it up. It might be that those house notes have been bundled and sold and resold so many times that there is no timely way to find someone's loan documents, and there is a time limit on how quickly you can prove the debt. I know for the credit reporting agencies, if you dispute a debt, and the creditor cannot prove it's yours in 30 days, by law, that debt must be removed. In short, your friend loses nothing to challenge the bank to produce the note. It will most likely give your friend time to scrape together enough money to pay down on the back debt while the bank is looking for the documents. It could be that the bank can't find them and your friend winds up free and clear. It could be that the bank shows up with the records and it's a done deal. But fighting it is still better than laying down for it, and fighting it, you might win. With as many foreclosures are going on out there, you'd think the bank would be more than willing to help someone out. Have your friends tried to negotiate with the bank at all?? Good luck to your friends. That really sucks.
4. See http://www.esuperfind.com/lowermybills.phpp?id=hra0tt16koo9 the affiliated site is an Experian company BBB approved so very safe. They might or they might not have you on. It depends on many factors and how big the debt is.
5. See this http://guidearticles.com/Home-refinance.html it should help
6. Just search around for a refinance firm and make triple sure they are part of the BBB network!