2007 Forfeiture - Foreclosure Timeline

2007 DELINQUENT TAX PROPERTY FORECLOSURE TIMELINE
March 1, 2008
2007 taxes are turned over delinquent to the Otsego County Treasurer
By June 1, 2008
Taxpayer is notified of delinquency via 1st class mail
By September 1, 2008
Taxpayer receives 2nd notice of delinquency via 1st class mail
On October 1, 2008
Additional $15.00 fee added to each delinquent parcel
On November 1, 2008
List is compiled of properties subject to forfeiture on March 1, 2007
On March 1, 2009
$175.00 fee is added to parcel and property is forfeited to the Otsego County Treasurer. Interest rate on unpaid balance increases to 1.5% per month retroactive to March 1, 2008
Between March 1, 2009 and January 31, 2010
1.     Title searches conducted to identify parties with legal interest in the property.
2.      Petition seeking foreclosure of forfeited property filed with Circuit Court
3.      Personal visit to forfeited property with personal service or posting of notice
4.      Administrative Show Cause Hearing held
5.     4th notice of delinquency and imminent foreclosure made via certified mail
 
Between January 1, 2010 and March 31, 2010
Final/Circuit Court hearing for foreclosure judgment will be held during this time period. Property owner (or certain other parties with a legal interest in the property) has until March 31, 2010 to redeem the property by paying all taxes, interest, penalties, and fees on uncontested cases
**SHOW CAUSE HEARING will be held on January 26, 2010 at 9:00 am in Rm 107 in the  Treasurer's Office, 225 W. Main St, Gaylord, MI in person or by phone, (989) 731-7560.
**FINAL/JUDICIAL FORECLOSURE HEARING will be held on February 4, 2010 at 8:59 am in Circuit Court, 2nd Floor, Rm 201, 225 W Main St, Gaylord MI 49735
 
On April 1st after Foreclosure Judgment
Title to property is forfeited permanently to the Otsego County Treasurer
 
Between July 2010 and November 2010
Foreclosed property offered for purchase at 2 public auctions to the highest bidder
Visit www.tax-sale.info/ for more information regarding Public Land Auction