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Court holds that property owner who fails to redeem after foreclosure has no standing to compel agreed-upon "short sale."

In Elhady v. Citimortgage, Inc., the Court of Appeals held that Elhady could not enforce an alleged agreement to a "short sale" with his mortgage company because he lost standing to act when he failed to redeem the property during the redemtion period after foreclosure.  Since he no longer had "standing" as an owner of the property, he could not come to court to enforce the alleged agreement.
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Traverse City, Michigan 49684
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