want to exempt new home but cant move in

[namartin3]

Thanks for the laughs guys, I've been stressed since sun. Now that you know the house is so cheap, does that change anything?

Btw--its got 3br, 2ba, recently updated kitchen, basement, 1.5 car garage. Suburbs of detroit, blue collar not a bad area

[ccsjoe]

I've read about houses in certain areas in MI, including Detroit, going for less than 9K. I believe the article heading was "In some states you can buy a house for less than a hybrid car".

[tobee43]

well...usually if you have assets and your state does not have a homestead act, they could sell the property and distribute the proceeds...

joe, however, makes a good point...if that's the area then what good would it do to even sell the property it it's worth so little.

i would definately get your attorney's advise on this situation.

[drowning123]

wow....sounds like someone's making some money in this downward market....also, i suppose a good business opportunity for those that can handle it.

we looked at forclosures but i was too concerned about karma...LOL!!!

The nerve looking at foreclosures! I was thinking about it, too! Ain't gonna lie. LOL!!!

[drowning123]

Thanks for the laughs guys, I've been stressed since sun. Now that you know the house is so cheap, does that change anything?

Btw--its got 3br, 2ba, recently updated kitchen, basement, 1.5 car garage. Suburbs of detroit, blue collar not a bad area

I knew it was Detroit!

[drowning123]

Thanks for the laughs guys, I've been stressed since sun. Now that you know the house is so cheap, does that change anything?

Btw--its got 3br, 2ba, recently updated kitchen, basement, 1.5 car garage. Suburbs of detroit, blue collar not a bad area

Put the house in your Dad's name, then take it back after you are discharged. The only problem is, if you plan on filing soon, they'll ask if you've transferred any property, and of, course, you could say yes, but my Dad purchased it anyway.

[tobee43]

The nerve looking at foreclosures! I was thinking about it, too! Ain't gonna lie. LOL!!!

really...i'm so ashamed!!! actually....we couldn't do it...i would see little kids beds...still MADE....toys..ahhhhhhhhhhhh...it was so terrible. we couldn't do it! so now we live in a nice place that SOMEONE else puchased on a foreclosure...but i'm NOT carrying the karma!!!...am i?

[namartin3]

I knew it was Detroit!

Take that back! Its not detroit...there's a world of difference between detroit and the surrounding suburbs

[drowning123]

Sorry, namartin, you did say a suburb of Detroit.

[tobee43]

Btw--its got 3br, 2ba, recently updated kitchen, basement, 1.5 car garage. Suburbs of detroit, blue collar not a bad area

yes, i too, thought it was near detroit???

[geye]

Take that back! Its not detroit...there's a world of difference between detroit and the surrounding suburbs

yes, i too, thought it was near detroit???

Ha. I'm outraged on namartin's behalf LOL. Being in a suburb of Detroit and being in Detroit is like saying that rusted out Chevette is a Corvette because they're both 'vette's

Namartin, if you're in the redemption period didn't the foreclosure technically already happen at the sheriff's sale? I think at this point all you can stall is them starting eviction proceedings.

[tobee43]

ha. I'm outraged on namartin's behalf lol. Being in a suburb of detroit and being in detroit is like saying that rusted out chevette is a corvette because they're both 'vette's

great one!!! Lol!!!!!!

[HakunaMatata]

Hi all, just discovered this site tonight and im very impressed.

We are planning on filing ch7 very soon. We are going through a forclosure and currently have about 1 month left of the redemption period before the sheriff kicks us out.

My dad was kind enough to loan us some money to purchase a cheap house so we'd have a place to live, but it turned out there are some construction issues with the house so the township wont give us a CofO until there all resolved.

So with that background, can anyone tell me if i can put my new house as my homestead exemption here in Michigan, since I technically dont live in the home yet?

Also, how long, if at all, will filing for ch 7 keep the sheriff away from kicking us out of our old house.

Thanks in advance.

Since you're already in the redemption period, your house has been sold at the Sheriff's Sale. Filing BK won't delay this process (if you had filed prior to the sale, your lender would have had to obtain a Relief from the Automatic Stay in order to continue foreclosure proceedings). Your only option at delay is to force eviction. This commonly will extend time in the home by approximately 30 days. If you intend to do this, you MUST show up in court.

The deed to your original property will become operative to the Sheriff's Sale deed holder on your last day of redemption. You shouldn't have a problem filing homestead on your new property.

[namartin3]

Thanks for all your help. I finally met with a couple attorneys and they didnt think my case was a big deal. They said even if the trustee wanted to fight me on the house, it wouldnt be worth there time and effort.

As for having to move out of my current house, they said i was misunderstood. Once my redemption period ends i still have minimum 30 days to get out depending on how on top of things BOA is. They both expected it to be quite a bit longer.