2014 House Bill 5794 / Public Act 431

Correct error in foreclosure law revision

Introduced in the House

Sept. 10, 2014

Introduced by Rep. Mike Callton (R-87)

To correct an error in a law enacted <a href="http://www.michiganvotes.org/2014-HB-5277">earlier in 2014</a> that revised details of the right of a foreclosure auction property buyer to monitor the property during the post-auction redemption period (during which a delinquent borrower can pay the loan in full to redeem the property). In one provision of that bill it referred to the “mortgagor” when it meant the purchaser.

Referred to the Committee on Financial Services

Sept. 24, 2014

Reported without amendment

Without amendment and with the recommendation that the bill pass.

Oct. 6, 2014

Passed in the House 106 to 0 (details)

Received in the Senate

Nov. 12, 2014

Referred to the Committee on Banking and Financial Institutions

Dec. 11, 2014

Reported without amendment

With the recommendation that the substitute (S-1) be adopted and that the bill then pass.

Dec. 16, 2014

Passed in the Senate 37 to 0 (details)

To correct an error in a law enacted <a href="http://www.michiganvotes.org/2014-HB-5277">earlier in 2014</a> that revised details of the right of a foreclosure auction property buyer to monitor the property during the post-auction redemption period (during which a delinquent borrower can pay the loan in full to redeem the property). In one provision of that bill it referred to the “mortgagor” when it meant the purchaser.

Received in the House

Dec. 16, 2014

Dec. 17, 2014

Passed in the House 109 to 0 (details)

To concur with the Senate-passed version of the bill.

Signed by Gov. Rick Snyder

Dec. 29, 2014