Detroit Foreclosure Investors

Freep has an interesting story about how one can still be in their home even when it’s being foreclosed.

For starters, you don’t have to move right away. And if you work out a payment arrangement with your lender, there’s still a chance you can stay in your home.

Helpful information for those in trouble. Good information for the real estate investor. Know the process and what you’re getting into. In general, in the Detroit area,

• the owner can miss up to 3 mortgage payments before action is taken
• there is still time to redeem the house up to the sheriff’s sale
• even after the sheriff’s sale, the 6 month redemption period allows one to buy back their home

Read more in the article “Foreclosure doesn’t automatically mean eviction“.