Foreclosing Lender Locks Out Michigan Homeowner, Locks In Pets Despite State's Six Month Redemption Period

In Schoolcraft, Michigan, WWMT-TV Channel 3 reports:

• With the economy and the housing market in a downward spiral, foreclosures keep popping up. It's a reality one Schoolcraft man faces. Jaret Sweet admits he can't keep up with his home payments and surrendered to the fact he'll lose his home. But he says the bank crossed the line in his foreclosure process. Sweet says he came home one day to find a notice on his door, all of his locks changed and his pets and belongings trapped inside.

• Foreclosure rules in Michigan say that a homeowner can live in a house for as long as six months after notice is given. Sweet says he would have used the time to gather his things and move out, but he didn't get that chance. His realtor agrees this was a shady deal. "All I can think is sloppy procedures or disregard for the processes that are in place to protect consumers," said Paul McIntyre, Sweet's realtor. The realtor's heard of at least five other cases like Sweet's. He says the aggressive foreclosure climate is causing banks to either ignore or forget the rules.

Source: Bank accused of shady foreclosure practices.

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