Question: What is foreclosure? – Foreclosure is a legal process in which the rights to a property is taken away from the owner and the property is then sold to satisfy unpaid mortgages and liens against the property.
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Lansing Michigan foreclosure
Question: Can I stop the foreclosure sale? – Answer: Yes. You can bring your mortgage payments current along with all late charges, foreclosure fees, taxes, and insurance premiums. If you are unable to do so, you can contact your lender and try to negotiate a plan to modify your payments but don’t wait until the last minute to do this. Other options include refinancing, selling your home and or filing for bankruptcy.