No. Forfeiture is not foreclosure. If your property is in forfeiture, you still have one year before it will be foreclosed. However, the interest and fees will be substantially higher. When a property is forfeited, the interest rate goes from 1% per month to 1.5% per month retroactive to the date it first became delinquent. A $175 processing fee, as well as other fees determined by the State of Michigan are also added.