http://www.michigan.gov/ en Copyright 2009 - State Of Michigan Mon, 9 Nov 2009 03:43:31 EST http://www.michigan.gov/podcast http://blogs.law.harvard.edu/tech/rss http://michigan.gov/documents/gov/Gov197Full_278656_7.mp3 Fri, 15 May 2009 07:00:00 EDT Like dark storm clouds swirling on a spring day, foreclosures threaten the dreams of thousands of Michigan homeowners. But this week a ray of sunshine poked its way through the clouds.
A conference committee agreement on legislation between the Michigan Senate and House of Representatives will give homeowners facing foreclosure some breathing room, some hope, to save their homes and preserve their American Dream.
The legislation freezes foreclosure proceedings for 90 days for homeowners who commit to work with their lender on modifying their mortgage loan. As a first step, the lender will be required to notify the homeowner in writing why the mortgage is in default, and how to contact the mortgage holder.
For help in modifying the mortgage loan, the homeowner must contact a housing counselor. Housing counselors will be available through a state agency, the Michigan State Housing Development Authority. http://michigan.gov/documents/gov/Gov197Full_278656_7.mp3