Foreclosure University - Your Online Real Estate Investing Resource » michigan http://www.foreclosureuniversity.com/blog Foreclosure - Real Estate Investment : Short Sales Tue, 13 Dec 2011 05:33:36 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 Is Michigan an anti-deficiency state? http://www.foreclosureuniversity.com/blog/309/is-michigan-an-anti-deficiency-state/ http://www.foreclosureuniversity.com/blog/309/is-michigan-an-anti-deficiency-state/#comments Sun, 21 Mar 2010 00:10:14 +0000 Jarad http://foreclosureuniversity.com/blog/2010/03/20/is-michigan-an-anti-deficiency-state/ Question: is Michigan an anti-deficiency state?

]]> http://www.foreclosureuniversity.com/blog/309/is-michigan-an-anti-deficiency-state/feed/ 0 MICHIGAN PROPERTY…IF I AM IN REDEMPTION, HAVE FOUND A BUYER FOR THE HOME AND MY LENDER IS WILLING TO TAKE A SHORTSALE. DO I STILL HAVE TO PAY OFF THE SECOND LIEN ON THE HOUSE OR WAS IT WIPED OUT AT SENIOR LIENS SHERIFF’S SALE? http://www.foreclosureuniversity.com/blog/64/michigan-propertyif-i-am-in-redemption-have-found-a-buyer-for-the-home-and-my-lender-is-willing-to-take-a-shortsale-do-i-still-have-to-pay-off-the-second-lien-on-the-house-or-was-it-wiped-out-at/ http://www.foreclosureuniversity.com/blog/64/michigan-propertyif-i-am-in-redemption-have-found-a-buyer-for-the-home-and-my-lender-is-willing-to-take-a-shortsale-do-i-still-have-to-pay-off-the-second-lien-on-the-house-or-was-it-wiped-out-at/#comments Thu, 23 Oct 2008 05:42:00 +0000 Jarad http://foreclosureuniversity.com/blog/2008/10/22/michigan-propertyif-i-am-in-redemption-have-found-a-buyer-for-the-home-and-my-lender-is-willing-to-take-a-shortsale-do-i-still-have-to-pay-off-the-second-lien-on-the-house-or-was-it-wiped-out-at/ Question: MICHIGAN PROPERTY…IF I AM IN REDEMPTION, HAVE FOUND A BUYER FOR THE HOME AND MY LENDER IS WILLING TO TAKE A SHORT SALE. DO I STILL HAVE TO PAY OFF THE SECOND LIEN ON THE HOUSE OR WAS IT WIPED OUT AT SENIOR LIENS SHERIFF’S SALE?

Answer: – It’s hard to say because I don’t know what happened at the auction.  Typically in order to do a short sale, you need the 2nd to “release their lien” or “satisfy” it in order to get the acceptance.

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