Introduced
by
To create a new state fund to provide subsidies to “low income individuals seeking to avoid foreclosure” on home loans, subsidies for downpayments to people seeking mortgages, and various other purposes. The bill would earmark for the fund certain fines on lenders for violation of a <a href="http://www.michiganvotes.org/2002-HB-6121"subprime mortgage regulation law</a> passed in 2002.
Referred to the Committee on Banking and Financial Services
