Finance
After a Michigan foreclosure sale (by advertisement), the borrower's right of redemption lasts:
A30 days
B3 months
C6 months for properties with more than 3 acres or where the deficiency is less than two-thirds of the debt✓ Correct
D1 year for all properties
Explanation
Michigan provides a 6-month statutory redemption period after a foreclosure sale for most properties (reduced to 3 months for certain smaller residential properties sold for more than two-thirds of the appraised value). The borrower may redeem by paying the sale price plus interest and costs.
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