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Rosa Said:

Who can I contact to help me avoid foreclosure in Michigan?

We Answered:

I am not sure what county you are in, but contact a local non-profit housing agency. They can work with your lender to help you get a modification or forebearance. I work for Northern Homes CDC in Charlevoix county. If you contact MSHDA at 866.946.7432 they can put you in contact with someone in your community who can possibly help. Remember, do not pay for these services! They should always be free.

Tracey Said:

Deed in Lieu of Foreclosure in Michigan?

We Answered:

The agreement you signed to allow the attempt to sell the house was called a forebearance agreement (at least I hope you have one) in it it stipulated the terms by which the bank would then take the deed in lieu of foreclosure. One of those terms would say how long you have to stay after the deed in lieu of foreclosure is signed and recorded. If not, prior to the deed in lieu of foreclosure is signed you should attempt to get a short term rental agreement, if you can't then once the deed in lieu of foreclosure is signed and recorded and you stay in the property you are considered a tenant holding over without permission and can be sued for damages if you do not vacate after proper notice. Lenders will need time to market the property so in most cases they will work with you on time to stay after they acquire the property.

Elaine Said:

Can a private morgage lender do business in any state?

We Answered:

You must be licensed in each state in which you wish to do business.

June Said:

Need help with mortgage information?

We Answered:

I'm surprised you were allowed to add yourself to the deed without being put on the note. Banks don't like for people to own interest in a property when they are not financially responsible for it. Your daughter can let the mortgage default and apply to sell it as a short sale, which means the bank will take a loss, but her credit will take a hit as well. Better than a foreclosure, which is where it's headed if you can't make the payment.

Nina Said:

bank sent our mortgage to attorneys to start forclosure proceedings. What are our options?

We Answered:

There are state and federal assistance programs---FIND them.

You've dug yourself a big hole if you've paid NOTHING on your mortgage since January. You should have made some payments, asked for forbearance. It's good that you have been in communication with Citi. Call them back and request assistance, Speak to more than one person, to supervisors.

This will take persistence and perseverance. Keep at it!