Search Michigan Foreclosures

Tons of Michigan home foreclosures for sale are currently available for sale! Our Michigan foreclosure listings being updated daily, providing you with great deals all the time. Our listings for Michigan foreclosures have both foreclosure and repo homes.

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Latest Foreclosures in Michigan

Hatchery Rd, Waterford, MI
MI 48329
3BD/1.00BH
$54,900
ROSELAWN ST, Detroit, MI
MI 48204
3BD/1.00BH
$10,000
Ilene St, Detroit, MI
MI 48221
3BD/1.00BH
$14,999
Plainview Ave, Detroit, MI
MI 48228
3BD/1.00BH
$7,500
Stansbury St, Detroit, MI
MI 48235
3BD/1.00BH
$14,900
Stephens Ave, Flint, MI
MI 48507
2BD/1.00BH
$18,900
Town Ctr Ste 402, Southfield, MI
MI 48075
2BD/2.00BH
$18,900
Whitcomb St, Detroit, MI
MI 48227
3BD/1.00BH
$17,900
Healy St, Detroit, MI
MI 48234
3BD/1.00BH
$7,550
Burt Rd, Detroit, MI
MI 48228
3BD/1.00BH
$4,900
Chatsworth St, Detroit, MI
MI 48224
3BD/1.00BH
$10,900
Bloom St, Detroit, MI
MI 48234
2BD/1.00BH
$3,195
Olympia, Redford, MI
MI 48240
3BD/1.00BH
$24,900
S Bear Lake Rd, Muskegon, MI
MI 49445
3BD/2.00BH
$58,900
Edgeknoll Ct Se, Grand Rapids, MI
MI 49508
3BD/2.00BH
$99,400
Lakeside Dr, Waterford, MI
MI 48328
3BD/1.00BH
$39,900

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Search through the best listings of foreclosures in Michigan. We provide foreclosed homes and auctions in the major Michigan cities. Choose a city and fing an excellent deal for you!

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Detroit Resources

Detroit Resources

Detroit, also known as the Motor City or Motown, is most famously known for its automobile industries. Detroit is the ...

Michigan Foreclosures for Sale

Michigan foreclosures

Michigan is located in the upper Midwestern region of North America and is divided by two distinct areas known as the Upper Peninsula and the Lower Peninsula. These contrasting areas are characterized due to their differing geographical qualities, with the upper region consisting largely of forests and landscapes, while the lower contains the majority of the state's major cities and industrial sector. These major cities include Lansing, which is the state's capital, Detroit, which is Michigan's largest city, along with Sterling HeightsWarrenAnn Harbor and Grand Rapids.
The demographics of Detroit leans toward three distinguishable types of people within the city, which include low-income singles that generally are situated in the metropolitan areas, single parents raising children, who generally carry a college degree or higher, and elderly citizens who often purchase condos or apartments.
Detroit serves as one of Michigan's major automotive production centers, with three of the major car companies including General Motors, Ford and Chrysler all hosting their main headquarters in Detroit. The manufacturing industry, overall, contributes a strong amount towards the state's economy, also making other transport equipment and accessories for car, trucks, planes, buses and boats. Michigan's industry branches out into numerous sectors, which results in much of the industries huge success. Michigan is also well known as a key manufacturer of sporting equipment, which is exported nationwide, providing for all types of sports. The state's mining company garners the majority of its profits from the production of petroleum, natural gas and iron ore. It is also being home to one of the biggest limestone quarries in the world. The agricultural sector generates a great amount of revenue from the production of livestock and crops, with dairy products being the most important on the market. Other areas that are maintained include the production of chicken eggs, hogs and turkeys, along with crops such as nursery and greenhouse plants, as well as an abundance of fruit and vegetables.
The housing market in Detroit and other major cities has recently begun to yield positive results, making Michigan foreclosures all the more appealing. The rate of households being sold is on the rise, sitting on a near 33 percent increase as compared to last year. Average listing prices currently start at around $103,000 and Michigan home foreclosures also sit within that range. Fortunately, such trends are expected to continue.

Michigan Foreclosure Laws

Almost all foreclosures that take place in the state of Michigan are non-judicial. Most mortgages contain a power of sale clause, which enables the lender to pursue a foreclosure without a hearing if the borrower (homeowner) is found to be in default. Michigan foreclosure law does not require that a lender notify a homeowner before scheduling a foreclosure sale, although individual mortgage agreements might call for such an action. The homeowner's right to halt the foreclosure by settling the default debt before the sale takes place is also dictated by the mortgage agreement. The foreclosure sale date is usually set for about two months after the homeowner is found to be in default.

A notice of sale must be published in a local weekly newspaper for four weeks prior to the scheduled foreclosure sale date. During this period, a copy of the notice must also be posted on the property in question. The sale may also be postponed, but if it is postponed for more than a week, it must be rescheduled at least a month in advance. This allows enough time for all of the previous specifications regarding publication to be met.
On the day of the sale, an auction is held at the county courthouse, and is usually presided over by the sheriff. Anyone, including the lender, may bid on the property. Once a winning bidder has been established, the sheriff presents that person with documents certifying that they now own the property.
The original homeowner, however, does retain a right to redemption. This period of time allowed for redemption varies, but is typically limited to six months from the date of the foreclosure sale. In order to redeem ownership, the homeowner must provide the full amount of the winning bid plus any additional interest within an allotted time period.

Michigan Foreclosure Process Flow Chart

Foreclosure Process in Michigan

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