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Old 02-04-2011, 02:38 PM
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Default Considering foreclosure in Michigan? Options?

Because we were transferred? We have a house that we are barely able to keep up the payments on? We have slashed the price to the bare bones. No buyers! Would sell for $45,000 to get rid of it. The market is flooded in this town. This house is draining the checkbook> We are thinking about foreclosure to save our core and be able to keep making our other payments. All payments are up to date mortgage, taxes, insurance, utilities. Would we just quit making all the payments? I know we can turn off all utilities. What about taxes and insurance? What about the house we are in now? Would it be protected? The money we would save would go along way in paying off other debt. Is there a way to plan foreclosure? Would we need an attorney? Sinking in Michigan
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