2010 Forfeiture - Foreclosure Timeline
2010 DELINQUENT TAX PROPERTY FORECLOSURE TIMELINE
March 1, 2011
2010 taxes are turned over delinquent to the Otsego County Treasurer
By June 1, 2011
Taxpayer is notified of delinquency via 1st class mail
By September 1, 2011
Taxpayer receives 2nd notice of delinquency via 1st class mail
On October 1, 2011
Additional $15.00 fee added to each delinquent parcel
On November 1, 2011
List is compiled of properties subject to forfeiture on March 1, 2012
On March 1, 2012
$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, 2011
Between March 1, 2012 and January 31, 2013
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, 2013 and April 1, 2013
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 April 1, 2013 to redeem the property by paying all taxes, interest, penalties, and fees on uncontested cases
**SHOW CAUSE HEARING will be held in January 2013 at 225 W. Main St. Rm 107 Gaylord, MI 49735 at 8 a.m. in person or by phone (989) 731-7560
**FINAL/JUDICIAL FORECLOSURE HEARING will be held in February 2013 225 W.Main St. Gaylord, MI 49735 Rm 201 at 8:59 a.m.
On April 2nd after Foreclosure Judgment
Title to property is forfeited permanently to the Otsego County Treasurer
Between July 2013 and November 2013
Foreclosed property offered for purchase at 2 public auctions to the highest bidder
