Redemption Period Question...

[Rob517]

I am in MI and have defaulted on my home. I plan to let it go with my BK. MI has a 6-month redemption period. My question is, when does the redemption period start? Is it after I have been notified of foreclosure (about 90 days or so in MI) or after the auction sale? I was told that after my home sells at auction I then have 6 months to become current or be evicted, but that doesnt seem to be correct because if it has sold..then why would I need to be current since I would no longer have any ties to the home.

Thanks again for the help.

[Tbornetun]

It would be 6 months from the sale/auction date. Even if someone bought it at the auction, you are still entitled to redeem the property during that 6 months.

[Rob517]

Oh wow...didn't know that....good info....

The attorney I had spoke with informed me of the 6-month redemption period but since I have not officially retained him as of yet, I wasn't sure on when this period starts and figured I would ask here.

Thanks