redemption period (michigan) after bankruptcy

[jsd]

Hi. (my question is in bold below, but I posted some background info)

I am from Michigan. About a year ago, my ex-gf and I split. The house was in my name. And 60% of our household income walked out the door when she left. I knew, in all realistic terms, I could never afford to keep this house. Even if I could afford the mortgage, maintenance and repairs would destroy me financially. So I made the hard decision to let it go.

I also had unsecured loans for a new roof and new windows. I happened to be unemployed at the time. So I consulted with a lawyer and he recommended Chapter 7 Bankruptcy. We went forward and my bankruptcy was discharged. Before this, I had a credit score of 798.

I have not paid a payment on this house since last July 2009 and have still been living here, saving money (with now ruined credit) to pay for a lease up front when I go. Well, the foreclosure has now started. The auction sale is June 30.

I've done some research on this and from what I can tell, there is a 6-month redemption period in Michigan. However, does this apply if I have already filed Chapter 7 Bankruptcy protection and had all my debt discharged? Because we listed the house as "forfeit" on those filings....

So I am wondering, will I get the same 6-month grace period that other people (in Michigan) get? or do I need to get out sooner?

Any help is really appreciated.

[penniless]

I'm gonna call my bk attorney tomorrow and find out. We have a 6 month redemption period in Minnesota too. I'd love to have 9-12 months of savings for a rental property.

[newbie2]

Hi. (my question is in bold below, but I posted some background info)

I am from Michigan. About a year ago, my ex-gf and I split. The house was in my name. And 60% of our household income walked out the door when she left. I knew, in all realistic terms, I could never afford to keep this house. Even if I could afford the mortgage, maintenance and repairs would destroy me financially. So I made the hard decision to let it go.

I also had unsecured loans for a new roof and new windows. I happened to be unemployed at the time. So I consulted with a lawyer and he recommended Chapter 7 Bankruptcy. We went forward and my bankruptcy was discharged. Before this, I had a credit score of 798.

I have not paid a payment on this house since last July 2009 and have still been living here, saving money (with now ruined credit) to pay for a lease up front when I go. Well, the foreclosure has now started. The auction sale is June 30.

I've done some research on this and from what I can tell, there is a 6-month redemption period in Michigan. However, does this apply if I have already filed Chapter 7 Bankruptcy protection and had all my debt discharged? Because we listed the house as "forfeit" on those filings....

So I am wondering, will I get the same 6-month grace period that other people (in Michigan) get? or do I need to get out sooner?

Any help is really appreciated.

Yes, you still get the 6 month right of redemption. It only is accelerated if you abandon the home. Filing bankruptcy doesn't halt or alter the foreclosure laws in our state. Thank goodness.