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Freedom Law, PC is a Detroit-area bankruptcy and debt-relief practice. We're dedicated to helping our clients with bankruptcy (Chapter 13 and Chapter 7), debt relief, avoiding foreclosure, stopping wage and bank account garnishments, stopping vehicle repossession and seizure, stopping creditor harassment, dealing with IRS and tax debts, and lowering property taxes.
We're conveniently located to support Detroit and the communities of: Clinton Township, Dearborn, Eastpointe, Ferndale, Fraser, the Grosse Pointes, Hamtramck, Harper Woods, Harrison Township, Highland Park, Madison Heights, Melvindale, River Rouge, St. Clair Shores, Sterling Heights, and Warren.
18121 East Eight Mile Road
Eastpointe, Michigan, 48021
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After a mortgage company has foreclosed on your home, it will sell the home to a new owner. That owner may end up paying a lot less for the home than what you owed on the mortgage. The mortgage company can sue you for that difference or deficiency. The mortgage company will typically also tack on lots of fees and surcharges to that deficiency balance.
Recently, we have seen mortgage companies sue homeowners without foreclosing on the property first.
The mortgage company goes straight to circuit court and sues the homeowner for the entire amount of the balance owed on the mortgage on a theory of breach of contract. The mortgage company does not appear to have any interest in foreclosing on the property. Any junior mortgage (second or third mortgages) can sue under the same theory.
This can be an overwhelming situation for a homeowner!
An attorney can be helpful during this process to help you sort through options and to preserve your rights.
Call our office, and we will provide a free, no-obligation consultation to discuss your particular situation.
The Kennedy Building
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Freedom Law, PC is designated by Congress as a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.