Foreclosure is serious business. It can strip you of your home, devastate your credit, and even leave you with stress, anxiety, and depression that can be difficult to overcome. But if it looks like you may be facing foreclosure in the near future you shouldn’t let...
Foreclosure
Two steps to immediately take when you are facing foreclosure
Many people in the Detroit area found 2020 to be a financially difficult year and for some people 2021 is shaping up to be no better. If you were furloughed, laid off or returned to work at reduced pay you may have found that paying your mortgage became impossible....
Should I sell my house to pay off debt?
When a Michigan resident is facing overwhelming debt, they can consider extreme options to keep themselves afloat. This often includes selling off their house in order to pay off their debts. As difficult as it is to consider selling the place where one has a lot of...
Understanding the foreclosure process
Many of our readers in Michigan have gone through some uncertain times over the past year and more, as have many others throughout the country. For some, the primary concern is the household finances. In some cases, that means that an individual or family’s ability to...
Foreclosure may be on the horizon for many if moratorium ends
Many struggling homeowners in Michigan have benefited from the moratorium on foreclosure that has been in place since 2020. However, eventually that moratorium will end meaning there may be an onslaught of foreclosure actions. Foreclosure can be incredibly stressful...
What are possible alternatives to foreclosure?
When facing the treat of foreclosure, nothing becomes more important than trying to save a family home. For that reason, homeowners who have the threat of foreclosure hanging over them should be familiar with the possible alternatives to foreclosure. Options that may...
Fighting foreclosure
The past year has been a difficult one for many people in Michigan. The economy has taken a beating, and many people have lost their jobs or experienced a sudden drop in income. Fortunately, struggling Michigan residents have benefitted from a number of state and...
Are reverse mortgages wise foreclosure alternatives in Michigan?
In Michigan and across the United States, people might be aware of reverse mortgages because of the number of commercials promoting them. These often feature well-known actors who give a basic explanation of the benefits of reverse mortgages. The advertisements are...
Keeping the family home in a tough economy
The past year has left millions of Americans struggling to make ends meet. Unpaid bills and job losses have made it difficult for them to see a way out of mounting debts, especially for those facing wage garnishment, foreclosure or eviction. Some people in Michigan...
What happens if a business defaults on its mortgage?
Rather than renting, some business owners in the Detroit metro area chose to purchase a building to serve as their place of business. Often this involves taking out a mortgage from a bank or creditor. However, sometimes business is not so good and the company fails to...
