Introduced
by
To revise details of a <a href="http://www.michiganvotes.org/2013-HB-383">2013 law</a> that made changes to the right of a mortgage 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). The bill would impose more restrictions on inspections by the buyer, require more notice before interior inspections, and offer more opportunities for the borrower to repair or correct damage before the buyer can claim immediate ownership rights.
Referred to the Committee on Financial Liability Reform
Reported without amendment
With the recommendation that the substitute (H-3) be adopted and that the bill then pass.
Substitute offered
The substitute passed by voice vote
Amendment offered
by
To establish a new date on which the bill would go into effect.
The amendment passed by voice vote
Passed in the House 107 to 3 (details)
Referred to the Committee on Banking and Financial Institutions
Reported without amendment
With the recommendation that the substitute (S-1) be adopted and that the bill then pass.
Substitute offered
The substitute passed by voice vote
Passed in the Senate 38 to 0 (details)
To revise details of a <a href="http://www.michiganvotes.org/2013-HB-383">2013 law</a> that made changes to the right of a mortgage 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). The bill would impose more restrictions on inspections by the buyer, require more notice before interior inspections, and offer more opportunities for the borrower to repair or correct damage before the buyer can claim immediate ownership rights.
Passed in the House 110 to 0 (details)
To concur with the Senate-passed version of the bill.
