Getting My Home Back After Foreclosure

**DROGAN** · 06-10-2007, 11:32 PM

I Purchased My Home In Michigan And It Was Sold At The Sheriffs Sale On 06/07/2007. I Want My Home. I Had A Lawyer Contact My Lender To Mediate For Me. But They Could Not Get The Lender To Extend The Sale Date. So I Lost Money To That Lawyer. How Do I Go About Getting My House Back? What Is The Process. Do I Have To Refinance The Full Mortgage Or Just What It Sold For Plus Fees And Expen? Can I Use Cash? Or Do I Refi The Entire Mortgage Due Plus Fees And Expen? Is The Sheriffs Sale The Same As A Short Sale?
Please Help Me,
Desperate

**aaron** · 06-11-2007, 05:44 AM

Typically the foreclosing lender is present to ensure that the sale price is at least the amount of their mortgage, although it is also possible for a Michigan lender to seek a deficiency judgment. The redemption period is usually six months (it can be as little as one month or as much as a year) starting on the date of the Sheriff's Sale, and the redemption period is probably described in the Sheriff's deed. That can be significantly shortened if the property is abandoned (i.e., not occupied). To redeem the property you have to reimburse the buyer for the purchase price plus interest.

**DROGAN** · 06-11-2007, 12:37 PM

Thank You for the quick response. so inorder to redeem my home, which i still live in, i have to reimburse the buyer for the purchase price plus interest. so my original mortgag was 72000 plus the late payments and penalties close to 80000 now. at the sale it sold for 11800. so how do i figure the total? do i contact the buyer or what? what steps do i take now?