Posted on: 31st Jul, 2010 10:20 am
My parents live in Macomb County in Michigan, they went through bankruptcy proceedings back in May 2010 & their bankruptcy has been discharged. They surrendered their townhouse style condo (they have not made a mortgage payment since the bankruptcy filing date-March 2010) with the bankruptcy, however, their mortgage company, Select Portfolio Services, continues to send them monthly statements. The statements contain information such as: this is not a bill, this is only for informational purposes, we acknowledge your bankruptcy. My parents were told by their attorney that they should remain in the condo for as long as possible-to save money-they are only paying the monthly condo association fee to the condo association itself. My question is this: any idea when they can expect the mortgage company to foreclose & then how long do they have to vacate the condo thereafter? They are in their 70's & not terriffic health-they found a suitable/affordable apartment & just feel very 'in limbo'. Any information is appreciated!
Hi dancemomrn,
Your parents should contact the lender and ask him to foreclose the property asap which will help them in getting rid of the property. Once the foreclosure is complete, your parents will receive an eviction notice from the lender. The notice will give them a specified time period to move out of the property. Your parents will have to move out of the property within that time period.
Take care.
Your parents should contact the lender and ask him to foreclose the property asap which will help them in getting rid of the property. Once the foreclosure is complete, your parents will receive an eviction notice from the lender. The notice will give them a specified time period to move out of the property. Your parents will have to move out of the property within that time period.
Take care.