Learn how the Michigan foreclosure process works, including preforeclosure steps, foreclosure procedures, and homeowner rights. Collects a fee up front before completing all services.This practice may be illegal in many circumstances in Michigan under the Credit Services Protection Act. Learn how the foreclosure process works in Michigan. Find out what happens when you miss a mortgage payment, when foreclosure begins, and if you can redeem. The foreclosure notice must be published for 4 successive weeks at least once a week, in a newspaper published in the county where the property is located. Ask your broker or lender to show you an itemization of the loan amount with all fees explained. Excessive Mortgage Broker Compensation (Yield Spread Premiums). Foreclosure is a complicated multistep process that allows mortgage lenders to repossess homes from homeowners who have missed payments on their mortgage loan. Here is a list of all of the Do-It-Yourself forms on Michigan Legal Help.
