This is a short entry on who should file chapter 7 bankruptcy in Michigan and why. Chapter 7 bankruptcy is unique in couple very significant ways and I’ll highlight those differences. When we here folks use the term “Fresh Start” they are talking about filing a chapter 7 bankruptcy 9 times out of 10. The…
Archives for May 2010
Strategic Default in Michigan? I Don’t Think So..Mi Foreclosure Info.
Is strategic default a good strategy for Michigan foreclosures? I recently saw a piece on 60 Minutes talking about a process called “Strategic Default.” With a strategic default, a homeowner intentionally stops paying their mortgage and lets the bank foreclose on the house. This is an option that many homeowners are considering when they are…