2008 Senate Bill 1305 (Authorize state debt for delinquent mortgage loan guarantees )

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Introduced by Sen. John Gleason on May 7, 2008, to authorize borrowing by the Michigan State Housing Development Authority for the purpose of guaranteeing loans to homeowners facing foreclosure. The loan guarantees would be an amount sufficient to cover an individual’s delinquent mortgage payments. This would apply during the two-year mortgage foreclosure moratorium proposed by Senate Bill 1306.
- Referred to the Senate Banking and Financial Institutions Committee on May 7, 2008.

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Comments

Introduced by Sen. John Gleason on May 7, 2008. New Comment

1) Personal Accountability [by Anonymous Citizen on May 9, 2008]
Let these people work things out with the mortgage company who certainly doesn't want their house - keep the rest of us responsible home-owners/taxpayers out of it! We have enough of our own bills to pay - we don't need to take on others liabilities.
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2) Citizen Mortgages [by Mike Hignite on May 9, 2008]
So the citizens of the state are now in the mortgage business?
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