I was in the process of purchasing a home that was an attempted short sale. The primary lien holder had agreed to the purchase, but the deal was being held up by a bank through which the owner had taken out a second mortgage. The homeowner gave up hope and abruptly chose to go "the deed in lieu of" route instead. My agent is telling me that the junior lien holder is now out of the picture and that they have no legal interest in the property. This doesn't sound right to me. Other than title insurance, what's to prevent this other bank from placing a lien on the property after I purchase it? (This is in Michigan, if that matters.)

I have very little money so I really can't afford an attorney. I just got served a "foreclosure summons" and I need some advise on how to proceed. We put the house on the market to sell and the man that holds the mortgage went in and tore out all the floors and the ceiling in the Florida room 2 day after we put it on the market. We had a person that was interested in buying it, but when they seen the condition they backed out. He had people working on the house, and kept it tied up so that it couldn't be shown on the market. Now he has filed the foreclosure summons for the full amount of the loan plus the additional cost of the repairs, (which are questionable). I am not disputing that I am in default, it is just the additional cost and his method he used to prevent us from selling the house so that we could pay the loan off. DON"T tell me that I am not telling this right! It is very accurate. It was a private loan NOT A BANK nor did I indicate that it was a Bank. I need help not criticism! The papers that I was served was from the Clerk of Courts Civil Action Summons Any help is appreciated!

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Is there any way to save my house from foreclosure.

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