2006 Senate Bill 1203 / Public Act 579

Revise residential mortgage foreclosure redemption timetables

Introduced in the Senate

March 30, 2006

Introduced by Sen. Alan L. Cropsey (R-33)

To clarify and revise certain details of the timetables that apply to redeeming residential property on which the mortgage has been foreclosed.

Referred to the Committee on Judiciary

May 3, 2006

Reported without amendment

With the recommendation that the bill pass.

May 9, 2006

Passed in the Senate 37 to 1 (details)

Received in the House

May 9, 2006

Referred to the Committee on Judiciary

Nov. 29, 2006

Reported without amendment

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

Dec. 13, 2006

Substitute offered

To replace the previous version of the bill with one that establishes that the bill does not apply to residential properties with more than four units (since this would conflict with the state condominium statute).

The substitute passed by voice vote

Dec. 14, 2006

Passed in the House 105 to 1 (details)

To clarify and revise certain details of the timetables that apply to redeeming residential property on which the mortgage has been foreclosed.

Received in the Senate

Dec. 14, 2006

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

Passed in the Senate 36 to 1 (details)

Signed by Gov. Jennifer Granholm

Dec. 30, 2006