Michigan is a non-judicial foreclosure state. Foreclosure by advertisement reaches a sheriff's sale in a few months — but a statutory redemption period then follows. Michigan provides a post-sale redemption period — commonly six months (up to a year for larger or agricultural parcels, and as short as ~30 days if the property is abandoned). Because a lender absorbs carrying cost and risk for that entire period, a cash note sale today often beats carrying the credit through foreclosure.
Michigan's foreclosure by advertisement reaches a sheriff's sale relatively quickly, but the borrower's statutory post-sale redemption — often six months — keeps the lender's outcome uncertain until it expires. That redemption overhang is exactly the timeline and risk a cash note sale eliminates.
Compare the foreclosure path to a cash sale with the loan-sale-vs-foreclosure calculator, using the timeline above.
A note sale transfers the loan to a buyer for cash, removing the timeline, the legal cost, and the risk of ending up as the owner of the property. Standing Bid Capital is a direct principal buyer of CRE loans, discounted payoffs, and REO — $250K–$25M, all-cash, no re-trade, confidential. Request a confidential review.
Foreclosure by advertisement reaches a sheriff's sale in a few months — but a statutory redemption period then follows. Timelines vary with the property, court or trustee schedule, and any borrower defenses; confirm with local counsel.
Yes — a note can be sold at any stage; the buyer steps into the lender's position and continues or resolves the process. Send the current legal status with the loan tape.
Standing Bid Capital buys nationwide, directly and all-cash, $250K–$25M. Request a confidential review.