Introduced
by
To extend until June 30, 2014 the sunset on a <a href="http://www.michiganvotes.org/2009-HB-4453">2009 law</a> that forces mortgage lenders to attempt to negotiate revisions in the terms of delinquent loans before they can proceed to a “foreclosure by advertisement” (instead of the more costly judicial foreclosure process). This would be the second time this “temporary” law has been extended.
Referred to the Committee on Financial Services
Reported without amendment
With the recommendation that the substitute (H-1) be adopted and that the bill then pass.
Substitute offered
The substitute passed by voice vote
Amendment offered
by
To eliminate the "tie bar" that requires Senate Bill 383 to become law for this one to. SB 383 would clarify the right of a mortgage foreclosure auction property buyer to monitor the property during the post-auction redemption period.
The amendment failed by voice vote
Passed in the House 98 to 9 (details)
Referred to the Committee of the Whole
Amendment offered
by
To eliminate the "tie bar" that requires several related bills to become law for this one to.
The amendment failed 12 to 26 (details)
Passed in the Senate 35 to 3 (details)
To extend until June 30, 2014 the sunset on a <a href="http://www.michiganvotes.org/2009-HB-4453">2009 law</a> that forces mortgage lenders to attempt to negotiate revisions in the terms of delinquent loans before they can proceed to a “foreclosure by advertisement” (instead of the more costly judicial foreclosure process). This would be the second time this “temporary” law has been extended.
