A debate is stirring in Michigan over legislation that aims to shorten the redemption period for homeowners in foreclosure, The Detroit News says.
The bill made it through the senate’s Banking and Financial Institutions Committee.
Two opposing view are lining up to discuss the bill. On one hand, analysts believe a faster process will move more houses, lifting the overall economy. But opponents of this view believe a shorter redemption period harms distressed homeowners by giving them less time to stave off a foreclosure.