My question involves a foreclosure in the State of: MICHIGAN
I bought a house in East Grand Rapids and paid $42,000 dollars for it.
I borrowed $65,000 to fix it up.
Lender, lent on the original purchase price @ 100% and 100% towards the improvements.
Total loan $105,000
ARV = $205,000
I missed a payment while we had the house listed for sale and the lender started foreclosure proceedings.
Sheriff's Sale was held and the lender declared the home abandoned and gave us 30 days to show that it was not abandoned which we did in five different ways including having our lawyer hand carry documentation to the lender.
The letter of abandonment gave us 15 days after April 1st to tell them the house was not abandoned.
15 days after April 1st is April 16th.
I rented the house to a potential buyer the previous March and he was living there at the time.
On April 15th, the lender broke into the home and changed the locks. My tenant called me of course and I met him there. The police were also there because I called them to report the B&E. The lender and the lenders lawyer was also there on April 15th, 2010.
With one whole day remaining to show the house was not abandoned, the lender came there and saw the house was in fact occupied but commenced seizure of the house anyways.
The lender kicked my tenant out and fired my Realtor. Utilities were still in my name at the time as well.
I hired Varnum in Grand Rapids, MI and they were drooling over this case but they were disqualified by my lender.
I filed a construction lien on the property and stalled a pending sale the lender had.
I want the house back!