Introduced
by
To require courts to prohibit the foreclosure of a residential mortgages acquired through the Michigan State Housing Development Authority (MSHDA) for one year if the borrower requests it, notwithstanding the provisions of any contract between the lender and borrower, or any obligations of the lender which may be dependent on the revenue from loan repayments or proceeds from the foreclosure and sale of the property.
Referred to the Committee on Banking and Financial Services
