Michigan Real Estate Search Results

Default Amount

The amount the owner in default is behind on mortgage payments.

Opening Bid

At auction, the Opening Bid on a property is set by the foreclosing lender. This opening bid is usually equal to the outstanding loan balance, interest accrued, and any additional fees and attorney fees associated with the Trustee Sale.

Final Judgment Amount

The amount the defendant (borrower) owes the plaintiff (lender). This amount includes interests and penalties.

Unpublished

ForeclosedHomes.com uses several data providers to provide prices on listed properties. There may be cases where we haven’t received a price for a certain property from our data provider. In these cases, the price will be categorized as "unpublished".

status definitions

PreForeclosure/Notice of Default (NOD)

A Notice of Default means that a formal notice to a borrower has been sent declaring that a default has occurred on the monthly mortgage payments, and that legal action may be taken.

PreForeclosure/Lis Pendens (LIS)

Lis Pendens is a notification of a pending lawsuit. This is a judicial document filed by an attorney on behalf of the lender that starts the foreclosure process after a default of the loan agreement.

PreForeclosure/Notice of Trustee Sale (NTS)

NTS notates that the property is scheduled for public auction sale and is open to all qualified bidders.

PreForeclosure/Notice of Foreclosure Sale (NFS)

NFS is an order signed by a judge, directing a "Notice of Sale" be published and that a mediator (trustee) sell the property at public auction.

Bank-Owned

Properties under this listing type are also known as a foreclosure REO, or Real Estate Owned. An REO/Bank-Owned property is a property that goes back to the mortgage company after an unsuccessful foreclosure auction.

For Sale by Owner

Properties under this listing type are properties that are for sale by owner (FSBO).

For Sale by Realtor

Properties under this listing type are properties that are for sale by realtors.