A Sheriff’s Sale is the 3rd step in the Foreclosure process.
Until the Sheriff’s Sale actually happens, I am hoping that ALL possible attempts to save the home has been done.
A Sheriff’s Sale can be the permanent sale of your property. You may still have the possibility of purchasing the property back or even selling it during the Redemption stage, but it is not very likely that the Lender willl offer any type of financing plus you will have serious personal credit issues as well.
With the Sheriff’s Sale:
- Rules may vary by jurisdiction or county
- Many areas have in-person auctions
- Some areas are now using online auctions
- Make sure to find out by reading your paperwork or calling the law firm handling your case
- If your home is sold at auction you – effective IMMEDIATELY you NO LONGR own your home
- SUGGESTION: Do NOT move out of the property
- In Michigan, you are now in your 6 month Redemption Period
- See Redemption Period at: https://rrepros.com/redemption/
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