Civil procedure: foreclosure; distribution of proceeds from mortgage foreclosure auctions; modify. Amends sec. 3208 of 1961 PA 236 (MCL 600.3208) & adds secs. 3214 & 3222. TIE BAR WITH: HB 5153'25

Also relevant to:Homeowner

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Plain-English Summary

This bill changes how mortgage foreclosures are handled, especially for residential properties. It requires new steps for giving notice of foreclosure, including recording the notice with the register of deeds and posting it on the property. It also creates new rules for when a homeowner sells a foreclosed property, requiring the buyer to provide a "notice of rights" to the seller and observe a 7-day cooling-off period.

No official summary on file for this bill · generated by Gemini 2.5 Flash from its full text

Votes

Sponsorship · 4 Sponsors

Democrat3Republican1Independent0Other0

R · PrimeBrad Paquette
D · CoRegina Weiss
D · CoSharon MacDonell
D · CoJoey Andrews

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