Your next step should be to retain a lawyer to help you. The lawyer can arrange for you to be arraigned on the warrant, and perhaps help you obtain a reasonable bond. The lawyer can help you achieve the best possible result as it relates to your own particular circumstances and the facts of your case.
The first step is to appear for the arraignment and request release on bond. Most courts will allow you to do this on a walk-in basis without an appointment. Most courts do, however limit the days and/or times at which this can be done. An attorney can help arrange this important step in the criminal defense process.
I should add that having an attorney with you to argue bond is the best way to obtain an reasonable bond and avoid any overly restrictive terms and conditions of your pre-trial release (tether, drug testing, travel restrictions, etc.). Moreover, the longer you avoid being arraigned on the charges, the greater your risk of being arrested on the outstanding warrant. You will have a much more difficult time obtaining a reasonable bond if you are brought in on the warrant, as opposed to bringing the matter before the court voluntarily.
Regarding the Statute of Limitations:
Pursuant to MCL 767.24(6) there is a 6 year Statute of Limitations for all criminal offenses, unless otherwise specified by statute. According to MCL 767.24(5) an indictment for Uttering and Publishing of an Instrument affecting an interest in Real Property, or Mortgage Fraud may be found and filed within 10 years after the offense was committed or within 10 years after the instrument affecting real property was recorded, whichever occurs later.
In addition, there are some situations which may toll the Statute of Limitations period, such as if the you have left the state of Michigan, which would extend the period for which a charge can be brought (see MCL 767.24(7)).
In short, the applicable statute of limitations would be six (6) years unless the alleged crime affected an interest in real property, in which case it would be ten (10) years.
Good answers by other AVVO lawyers. You will fare much better, especially as to bond, if you appear personally (without being arrested) to deal with the warrant. You will want to contact a lawyer and have him arrange to bring you to court. If a lawyer can't get to this right away, call someone else. The warrant doesn't get cancelled until you are brought before a judge. If you are arrested, you will be hard pressed trying to explain to the court that you were in the process of hiring a lawyer for a 2008 case.