In Michigan, the standard foreclosure process is:
Question & Answer
Review the question and all answer choices
Judicial only
Michigan does not exclusively use judicial foreclosure. While judicial foreclosure is an option, it's not the only method available, making this option incorrect.
Non-judicial only
Michigan does not exclusively use non-judicial foreclosure. While foreclosure by advertisement is more common, judicial foreclosure remains a legal option in the state.
Both judicial and non-judicial (advertisement)
Strict foreclosure
Strict foreclosure is not permitted in Michigan. This process, where the lender automatically takes title without a sale, is only available in a few states and is not an option in Michigan's foreclosure procedures.
Why is this correct?
Michigan law explicitly allows both judicial foreclosure and foreclosure by advertisement (non-judicial). Foreclosure by advertisement is more commonly used because it's faster and less expensive, but both methods are legally available under Michigan statutes.
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