Legal Question in Real Estate Law in Michigan
Quit Claim Deed house to avoid Foreclosure
In 1998, I used a quit claim deed to transfer a house back to the mortgage company to avoid foreclosure at the mortgage companies request. Now, 6 years later, an attorney has sent me a letter saying that I still owe money on the house. This is the first time I have been contacted about owing money. Is this legal? Why did they wait so long to tell me?
1 Answer from Attorneys
Re: Quit Claim Deed house to avoid Foreclosure
When a debtor grants a deed in lieu of foreclosure to a creditor, the debtor is not always released from the remaining balance of the debt. It depends on what the settlement agreement stated. In Michigan, parties have 6 years to sue on a contract before the statute of limitations runsand the claim is barred. Have you been served with a complaint? Has it been more than 6 years since the settlement?
I provide a free consultation. If you would like to discuss this in further detail, call me at 586-979-7302. Good luck.
Janet M. Ziulkowski
586-979-7302
www.ziulkowskilaw.com
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