Earlier this month, Senate Bill No. 1481 and its counterpart, House Bill No. 6423, were introduced to the Michigan Legislature seeking to amend the foreclosure by advertisement statute by requiring mortgage servicers to participate in Michigan’s “Help for the Hardest Hit” program. If the bills are passed and signed into law by the governor, servicers who have not signed on to participate in the hardest hit program will be unable to foreclose certain mortgages by advertisement and instead, would be required to foreclose judicially. The bills have currently been assigned to the respective committee of each branch of Michigan’s Legislature for review. As always, we will keep you updated on any changes or movements of these particular bills.
Two new foreclosure bills hit Michigan legislature
Most Popular Articles
Latest Articles
Better taps Chad Smith as new president and COO
Holding company Better Home & Finance hired Chad Smith to be the president and chief operating officer of its mortgage business.
-
Assumable mortgage platform Roam partners with national lender on down payment assistance
-
Rental properties can help agents build a sphere of influence
-
The month in reverse mortgage rates: May 2024
-
DeSantis stamps changes to reverse mortgage tax requirements in Florida
-
NAR board votes to leave dues unchanged in 2025