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Does a Vacancy Posting Noticed posted to the front door mean the first stage of foreclosure?

Port Huron, MI |

We have done a 7 month lease on a home in Michigan it was a short sale and we are going to get a new mortgage on it in Feb 2013 due to we had a BK discharge on 1/29/2009 and FHA's
new guidelines state there is a three year wait. We were trying to lease the home so no other buyers could put in a offer. WE signed the lease with the sellers Realtor on 8/1/2012 thru 3/1/2013. We are just getting underway with the move and went to the house and on the door was a Vacancy Posting Notice. What does this mean ......Is this the start of foreclosure and what can you suggest at this point. We do have another home we still have to sell so I really do not need to make this move only wanted to lock this property up.

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Attorney answers 1


It seems likely that the notice is either a Notice of Foreclosure or a Notice to Quit Tenancy. Read the Notice carefully, any notice that is required under Michigan law should clearly state the purpose of such notice. Regarding Foreclosure, under MIchigan Law a mortgage holder foreclosing on a mortgage must post the Notice of Foreclosure on the property and by publishing the Notice in a county newspaper for 4 weeks. If this is the notice that is on the door it means a mortgage holder is holding the owner of the home in default and is ordering the sale of the home.

If it is a notice to Quit Tenancy, this could mean that the home has already been foreclosed on, and the redemption period (time after foreclosure in which the owner can redeem the property for the amount it owes the mortgage holder) has expired. After redemption a bank owns all interest in the property will typically file a notice to evict any holdover tenants - this would presumably include you, unless you have arrangements with the owner.

Your issue raises a lot of questions, I would advise you to carefully review the notice, and then seek a lawyer to discuss further.