Michigan Foreclosure/Bankruptcy??
I need advise. We moved to Michigan about 7 years ago at which time bought a house. The economy took a turn to the worst and both my husband and myself have been permant laid off of two jobs each. My husband still is unemployed and has been over a year. Our mortgage payment is very high and has raised several times due to assesments and taxes. We have had the house on the market and have taken it off because nothing is selling at all. We have come to the determination and realization that we are going to loose the house due to foreclosure. We have not received any notice as of yet but I expect it any day. We owe to much on the house and our credit because of all this is very bad. I guess my question is if the house is taken in a foreclosure and sold and there is a balance left can we file chapter 7 on that balance? I'm not sure of the laws in Michigan and I am a little embarrassed about the situation. I intend only stay a few years in Michigan until my children graduate and then we are leaving. I am done with Michigan but do not want my children to suffer in the process so we are going to stay til they graduate. I just hope that we can find someone that will rent to us after all is said and done. Very stressed. Can you answer my questions about bankruptsy, how long will we have to move out after the foreclosure notice is given, and how hard do you think it will be to obtain a place to live? 
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