Opinion ID: 2983000
Heading Depth: 2
Heading Rank: 2

Heading: Overbidding

Text: Defendant banks’ full credit bids were above the fair market value of plaintiffs’ homes. Plaintiffs argue such “overbidding” violates § 600.3228. This Court has declined to address such claims, stating that it is “not persuaded that making an other-than-marketvalue bid at a sheriff’s sale constitutes fraud sufficient to set aside [a] foreclosure.” Rubin v. Fannie Mae, 587 F. App’x 273, 276 (6th Cir. 2014). Contrary to plaintiffs’ assertion that good faith requires mortgagees to make fair market value bids in order to promote homeownership, § 600.3228 makes no such demand. See Bank of N.Y. Mellon Trust Co., N.A. v. Robinson, No. 311724, 2013 WL 6690678, at  (Mich. Ct. App. Dec. 19, 2013) (“[I]t was not an ‘injustice’ for [mortgagee] to purchase the property for an amount equal to what the [mortgagors] owed on the property, and [mortgagee] did not violate MCL 600.3228.”). The District Court properly dismissed this claim.