Despite all the headlines and hype in the last couple of weeks regarding foreclosures being delayed or put on hold due to “robo” signings and such, let’s talk reality. Michigan is a rather unique state in that we do NOT require affidavits , (some of which were allegedly “robo” signed) and foreclosures do NOT need to approved by a judge. . In Michigan, we rely on foreclosure by advertisement. The Michigan Association of Realtors recently met with experts in the field and state government to discuss this development and their opinion was that the impact, to date, is minimal or non-existent. Michigan is a non-judicial foreclosure state, meaning that Michigan’s legal protections for consumers and home owners do not involve the procedures in question. Valid real estate contracts and mortgages remain enforceable and unchanged. While attention grabbing headlines and breaking news stories continue to be part of our daily lives, remember that they do not necessarily apply to us in Michigan.
CENTURY 21 Town & Country Clarkston was voted a 2010 Best of the Best Readers Choice Awards for Realtors in the Oakland Press.