2019 House Bill 4226 / Public Act 130

Cap foreclosed mortgage redemption calculation fee

Introduced in the House

Feb. 21, 2019

Introduced by Rep. Ryan Berman (R-39)

To cap at $200 the amount that the purchaser of a property that was foreclosed for delinquent mortgage payments can charge to calculate how much the owner would have to pay to redeem the property within the statutory period of redemption.

Referred to the Committee on Financial Services

March 13, 2019

Reported without amendment

Refer to the Ways and Means committee.

Referred to the Committee on Ways and Means

March 21, 2019

Reported without amendment

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

April 10, 2019

Passed in the House 107 to 1 (details)

To cap at $250 the amount that the purchaser of a property that was foreclosed for delinquent mortgage payments can charge to calculate how much the owner would have to pay to redeem the property within the statutory period of redemption.

Received in the Senate

April 11, 2019

Referred to the Committee on Insurance and Banking

Oct. 24, 2019

Reported without amendment

With the recommendation that the bill pass.

Nov. 7, 2019

Passed in the Senate 36 to 0 (details)

To cap at $250 the amount that the purchaser of a property that was foreclosed for delinquent mortgage payments can charge to calculate how much the owner would have to pay to redeem the property within the statutory period of redemption.

Signed by Gov. Gretchen Whitmer

Nov. 21, 2019