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Old 06-27-2008, 02:11 PM
 
837 posts, read 2,343,816 times
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I know it may vary from state to state, but is Michigan one of those states where the banks can go after you, wages, and assessts at any point after a foreclosure??
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Old 06-27-2008, 08:21 PM
 
Location: Lansing
79 posts, read 419,466 times
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Yes the banks can get a default judgement for the difference. If you are in danger of foreclosure you may want to call a real estate agent in your area who specializes in short sales. While not a great option, it could be considered the lesser of two evils. It will not damage you credit as much as a foreclosure and a savy agent will make sure to negotiate with the bank that you will have no default judgement.
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Old 07-08-2008, 08:40 AM
 
837 posts, read 2,343,816 times
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Has this happened to anyone? I know here in AZ homeowners are protected from futur litigation
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