A mortgage usually allows 45 days delinquency before foreclosure may commence.  The first step is posting and publication at least 5 weeks prior to the sheriff's sale.  There is usually a 6 month redemption period following the sale.  The redemption period may be shortened if the property is declared abandoned.  It may be longer in certain cases such as when there is more than one third equity in the home.  It is a good idea to have your specific case reviewed by an expert.

     Under Michigan law, prior to foreclosure, a mortgage comapany must notify the homeowner of the right to a review for qualification for a refinance of the loan.  This process may add an additional 90 days to the foreclosure process.  The mortgage company cannot be forced to refinance your loan, but if they don't at least follow the consideration process, they cannot foreclose by the usual advertisement process.  Instead, they must foreclose by taking you to court.  This process is more expensive for the mortgage company to follow, however, it is much more likely to result in a deficiency judgment against the homeowner. 

A homeowner needs the advice of an attorney early in the foreclosure process.

     The bank might agree to accept a "deed in lieu of foreclosure" and relieve you of any further liability, although most banks are reluctant to do so.  They must be persuaded that foreclosure is inevitable and they would lose less if you turn over the property voluntarily.