Introduced by Sen. Darwin Booher (R) on June 6, 2012
To extend for another two years the Dec. 31, 2012 sunset on a 2009 law that forces mortgage lenders to attempt to negotiate revisions in the terms of delinquent loans before they can proceed to a “foreclosure by advertisement” (instead of the more costly judicial foreclosure process). Official Text and Analysis.
Referred to the Senate Banking and Financial Institutions Committee on June 6, 2012
Reported in the Senate on September 27, 2012
With the recommendation that the substitute (S-1) be adopted and that the bill then pass.
Substitute offered in the Senate on September 27, 2012
The substitute passed by voice vote in the Senate on September 27, 2012
Amendment offered by Gov. Gretchen Whitmer on September 27, 2012
To extend the foreclosure period for recently widowed older people on Social Security.