Foreclosure happens when a homeowner falls behind on mortgage payments and cannot catch up. Because a mortgage is a legal contract between you and the lender, missing payments can put your home at risk. If you default, the lender has the right to reclaim and sell your property — often through a public auction — to recover what’s owed. This process can damage your credit for years and leave you without a place to live.

Unfortunately, foreclosure is not rare. A recent U.S. Census Bureau study showed nearly one million Americans feared losing their homes to foreclosure. The most common reasons include:

• Job loss or reduced income
• Divorce or the passing of a spouse/partner
• Overwhelming debt — credit cards, medical bills, or other loans
• Relocation before the home sells
• Unexpected disasters or emergencies

Dawn Bowser, House Sales Professional, LLC has trusted real estate services in Michigan, known for getting houses sold fast and for top dollar. They tailor their services to what helps the homeowner best!  Selling fast may be necessary, getting a certain price critical, or certain terms and procedures for the sale may need to be followed.  They offer unprecedented experience helping homeowners in some of the most difficult situations of their life.  In essence, they offer homeowners in difficult straits, light at the end of the tunnel.

What Exactly Is Foreclosure?

Foreclosure is the legal process lenders use when you stop paying your mortgage. For example, if you lose your job and miss several payments, your lender will eventually step in to reclaim the home. Even if you get back on your feet, catching up on several months of missed payments — plus late fees and penalties — may feel impossible. At that point, foreclosure begins.

Foreclosure Timeline: How Long Do You Really Have?

The foreclosure process typically follows five steps:

1. Missed payments
2. Public notice of default
3. Foreclosure proceedings
4. Auction/sheriff’s sale
5. A Redemption Period of time (6 months -1 year)
6. Eviction

In the majority of cases, the redemption period (time you can stay in your house without paying before you are required to leave) is 6 months.  In a minority of situations, it can extend to 1 year typically if the amount owed on the mortgage is less than 2/3 or the original amount of the mortgage.  A homeowner must continue to occupy the home during redemption or the protective period is lost.  THE TIME DURING REDEMPTION IS THE MOST CRITICAL TIME FOR DECISIONS AND THE HOMEOWNER SHOULD SEEK A PROFESSIONAL — the clock is ticking.  Dawn Bowser, House Sales Professional, LLC is a group of sales professionals who have first-hand experience discussing the options with homeowners who are behind on their payments and how to successfully deal with the situation so it is a partial or full win, instead of a terrible loss.

Types of Foreclosure

There are two main foreclosure processes: non-judicial and judicial foreclosure.

Non-Judicial Foreclosure

This is the fastest and least expensive method for the lender. Instead of going through court, the bank uses a “power of sale” clause in the mortgage or deed of trust to take back the home and sell it. Lenders usually prefer it since it saves time and court fees.

Judicial Foreclosure

This process requires the lender to file a lawsuit and get a court order allowing the sale of your home. If you do not respond to the lawsuit, the lender automatically wins and can move forward with a foreclosure sale. Unfortunately, if the house sells for less than what you owe, you may still be responsible for the difference (called a deficiency judgment).

How to Sell Before Foreclosure in Michigan

You do have options — but the sooner you act, the more control you have over the outcome.

1. Hire a Real Estate Agent

A licensed agent can list your home on the MLS and help market it to buyers. You must hire someone who sells houses in these circumstances fast and for the best prices. A Sales Professional experienced and knowledgeable in these types of sales is critical.

2. Pursue a Short Sale

If you owe more than your house is worth, your lender may allow a short sale — selling for less than the balance of your mortgage. This avoids foreclosure but requires lender approval and can take a while.  If the foreclosure has not occurred yet, it is a very possible option. It will prevent the foreclosure and the hit on a homeowner’s credit and ability to buy another home will not be as severe.

3. Sell Directly to a Cash Buyer

This is can be a quick option.   Dawn Bowser, House Sales Professional, LLC has many cash buyers as clients and can get several to look at the property and give their offers.  In the end, it is up to the homeowner.  Cash buyers and investors purchase homes “as-is,” which means:

• No repairs, cleaning, or showings required
• No commissions or hidden fees
• Fast closing — sometimes in just 7–10 days

But it is important to consider, Dawn Bowser, House Sales Professional, LLC often can list the house and get it sold for much more than the cash offers, and often within the time constraints.

Can You Stop Foreclosure After It Starts?

Yes — but your options get fewer the longer you wait. Here are common solutions:

• Pay the past-due balance: If you can come up with the full amount (including penalties and fees), you may be able to reinstate the loan and stop the foreclosure process.
• Work with your lender: Ask about repayment plans, loan modifications, or forbearance programs.
• Consider bankruptcy: Chapter 7 bankruptcy can temporarily halt foreclosure, but it should usually be done if the homeowner has other non-household delinquent debt, and has serious long-term credit consequences.  Chapter 13 bankruptcy (payment plan bankruptcy) is much more understanding on your credit but is lengthy (3-5 years) and can be expensive.
• Government programs: Programs like the Homeowner Affordability and Stability Plan (HASP) are designed to help struggling homeowners lower payments and stay in their homes.