In Michigan, most people are unaware that once a foreclosure takes place and the property is foreclosed upon, whether it is by a mortgage note or tax sale, they think that is the end of the matter. But to some that is only the beginning. Once the property is resold, a surplus is generated. And that this surplus belongs to the previous owner in some or most cases with some exceptions.
Michigan has two types of foreclosure:
1) by advertisement
2) by judicial process. Foreclosure by advertisement seems to be the most frequently used in Michigan.
Once a foreclosure takes place, usually by a sheriff's sale, a property owner still can redeem his property in Michigan, however, if they fail to do that the foreclosure will become final. We at The Boora Law Group help individuals in securing money that is rightfully theirs. Call us today to speak with a foreclosure attorney.
To recover any surplus funds or money, jurisdictions in the State of Michigan require the filing of a petition in the Court, while others may require some other method. If you have been the subject of foreclosure and are unsure if you are entitled to money or funds, our office can assist you in recovering funds on a contingency basis, which means you pay absolutely nothing unless we recover your funds.
Contact our office today or call to speak with Attorney Boora regarding your situation and case, to see if we can assist you in obtaining money or funds that rightfully belong to you.