I got served about 13 days ago by a lawyer representing the holder of my 2nd morgage and am wondering where to go from here. I've got a lawyer but he will not talk to me before the 21 days I have to respond are up (I'm getting another lawyer). Can they sue me before my 6 month retention period is up? How should I respond to the court? I'm in Michigan and the details are listed below.
House was foreclosed on in September by Home Equity line of credit ($10K). They were first in line over my primary mortgage from Citi because I refinanced after I took out the HELC. Unusual but true.
The Home was sold at a sheriffs sale for the $10 K to a private individual. Citi then bought the house from the private individual and is going to foreclose on the property again in early January. They (Citi) files suit (Suing me) for the amount they paid the private individual for the house. They served the papers on 12/11/2010 and said I must respond in 21 days. I don't understand how they can do this because the 6 month retention period isn't up.
I owe approximately $70K on the primary mortgage and the house is probably worth $20K and I'm assuming they will come after that deficiency later.
My question involves a foreclosure in the State of: Michigan