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You are here: Home / Probate Forum / Voting Question: Foreclose with a Reverse Mortagage?

Voting Question: Foreclose with a Reverse Mortagage?

February 27, 2012 by Anthony Nitz

I live in Detroit Michigan, and currently is at a foreclose status. My mother owed the home and did a reverse mortgage. She passed last year and me doing the right thing called the company who did the reverse mortgage. They said if I did not probate her estate I would not have any rights on the home. So I filed all the paper work and has that started. The case should be closed in May. The mortgage company also said that I could buy the house at 95% of the appraisal, which would have bee 8,550. But before I could buy it at the price I have to put the home in my name. Well, I can’t do that until the probate case is close. Now they put me in foreclose saying I had to pay $76,000, if I wanted to keep the home. Since then the Sheriff came and gave me a noticed of Foreclosure and the home would be sold at the auction next month (March). When I called the company Trott & Trott to asked them did I have a redemption period, they said no because this was federal and not state. So I am asking my question to the world…. How much long can I stay in the home after the house goes to the auction?

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