August 2012 – Purpose Driven General Counsel

Foreclosed Property That Appears Abandoned – Does the Purchaser “Stand in the Shoes” of the Mortgagee for Purposes of Accelerating Redemption?

It is a practice of some purchasers at foreclosure sales to attempt to speed up the redemption period if the Property appears abandoned. Unless they are the mortgagee – they cannot do so under Michigan law. The Michigan Court of Appeals, in an unpublished decision, Leggio v Huffer, No. 301821, 2012 WL 2605926 (Mich CtContinue reading “Foreclosed Property That Appears Abandoned – Does the Purchaser “Stand in the Shoes” of the Mortgagee for Purposes of Accelerating Redemption?”