Posted on: 01st Dec, 2008 07:07 am
Sara mentioned in a previous post that Michigan is a deficiency judgment state. What does that mean?
Personally, I have been laid off and there are no jobs in MI. I am expecting an offer from another state. Renting my current home is not an option. I have a primary loan and a 2nd mortgage with the same lender. We have made all of our payments and plan to call the lender when I have the offer.
Thanks!
(and don't move to MI)
Personally, I have been laid off and there are no jobs in MI. I am expecting an offer from another state. Renting my current home is not an option. I have a primary loan and a 2nd mortgage with the same lender. We have made all of our payments and plan to call the lender when I have the offer.
Thanks!
(and don't move to MI)
As far as I can understand, what is mentioned above is true in respect to Michigan. Though you were unable to save your home, thankfully, you're not liable for pay any deficient balance.
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