Your options for stopping or delaying foreclosure — from selling for cash to loan modification, forbearance, and more.
The sooner you act, the more options you have. Here are the main ways to stop foreclosure in Michigan, ranked by effectiveness and feasibility:
A cash sale to a buyer like Maverick Integrity Group can close in as little as 7 days — faster than any other option. The sale proceeds pay off your mortgage in full, stopping foreclosure immediately. You keep any remaining equity. This works at any stage: pre-foreclosure, during the notice period, and even during the 6-month redemption period after a sheriff's sale.
Work with your lender to change loan terms — lower interest rate, extend the term, or add missed payments to the balance. Approval isn't guaranteed and the process can take 30-90 days. Best pursued early (months 1-3 of delinquency).
Temporarily pause or reduce payments for a set period. Works well for temporary hardship (job loss, medical issue). Missed payments are typically repaid later through a modification, lump sum, or payment plan.
Filing Chapter 13 bankruptcy triggers an automatic stay that halts foreclosure immediately. You propose a 3-5 year repayment plan for arrears while making current mortgage payments. This can work but has serious credit implications and requires ongoing ability to pay.
Voluntarily transfer the property to the lender. Releases you from the mortgage but you lose the home and any equity. Less damaging to credit than foreclosure but still a significant negative.
We can close in as little as 7 days. Pay off your mortgage, stop the foreclosure, and move forward with cash in hand.
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