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Updated over 16 years ago,

User Stats

25
Posts
0
Votes
Ruben Ramon
  • Appraiser
  • Grand Ledge, MI
0
Votes |
25
Posts

Redemption Period and Bank Possession

Ruben Ramon
  • Appraiser
  • Grand Ledge, MI
Posted

I'm working on a short sale with a home owner. In Michigan, if the property is over 3 acres, the redemption period is 12 months, less is 6 months.

We are almost half way into the redemption. However, the realtor for the servicer (Chase) put a lock box on the property. The redemption period isnt over for over six months. I am tempted to just cut it off, but I want to know if there is a process to this.

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