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Ask Barrister Your Own Question
Barrister
Barrister, Attorney
Category: Legal
Satisfied Customers: 38200
Experience:  16 yrs practice, Civil, Criminal, Domestic, Realtor, Landlord 26 yrs
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Im in Michigan and am in a Land contract. my grandmother is

Customer Question

im in Michigan and am in a Land contract. my grandmother is the land contract holder and has filed a foreclosure today on my property I have put the home up for sale and have a listing agreement with equity in the home will the foreclosure hit my credit?
JA: Since laws vary from place to place, what state is this in? And has any paperwork been filed?
Customer: michigan. I believe they filed paper this morning
JA: Has anything been filed or reported?
Customer: on my credit?
JA: Anything else you want the lawyer to know before I connect you?
Customer: no
Submitted: 5 months ago.
Category: Legal
Expert:  Barrister replied 5 months ago.

Hello and welcome! My name is ***** ***** I am a licensed attorney and will try my best to help with your situation. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply, but rest assured, I am working on your question.

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will the foreclosure hit my credit?

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Yes, because it a public legal action and the credit reporting agencies consider this to be a negative credit event...

It would be reportable for up to 7 years from the date of the actual foreclosure judgment.

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thanks

Barrister