Legal Question in Real Estate Law in Michigan

my mom has a 73 - 74 thousand dollar mortgage on a house that is not worth 2 thousand , would it be better to put her into bankruptcy or let the hose go into forclosure ? the mortgage company over estimated it's worth as many have done in the last 5-6 years .


Asked on 7/16/11, 2:38 pm

1 Answer from Attorneys
Rochelle Guznack Law Offices of Rochelle E. Guznack, PLLC

Bankruptcy and foreclosure frequently go hand-in-hand. Many people find relief in bankruptcy from a mortgage deficiency after foreclosure.

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Answered on 7/18/11, 7:31 am


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