I'm hopeful some one here can help shed some light on a few things for me. My house was set for sheriff sale 1/11/12. I still have no idea if it was actually sold or not, I guess I've been to worried to find out, but I'm going to have to some time. May be if I can get some answers here to my new questions it will make calling a little better. The day before the sale I checked Foreclosure.com and the min bid was set at $262K which is the balance of my mortgage. I have not heard if it sold or not, but today a real estate agent showed up at my house to talk to us about doing a short sale. He told us that the bank bought the note back at $107K. We live in Michigan and I was under the impression that Michigan had the "Full Credit Bid" rule that the bank bids the full amount that is due on the mortgage? Is this true, or can the bank set the min bid then they bid a Much lower amount? That would leave us with a 150k+ defeciency on the note. This is our primary home and has been for over 10 years. Another question I have is for our 12 month redemption period, if we are to redeem the house, is the amount we have to redeem the full mortgage amount of 262K or the total amount bid at sheriff sale of 107K (if that's correct)? I've read so many great post her on this forum, that I may be getting the law between states mixed up. Thanks to anyone who can help answer my questions.