Sen. Hunter Helps Pass Mortgage Assistance Legislation to Protect Homeowners Facing Foreclosure
Michigan's 90-Day Pre-Foreclosure Negotiation Law extended for one year
LANSING -Senate Democratic Floor Leader Tupac A. Hunter (D-Detroit) voted today to pass House Bills 4542-4544, a bill package to extend Michigan’s 90-Day Pre-Foreclosure Negotiation Law for one year. This important law to enable residents to stay in their homes and stave off foreclosure stay was extended six months in July and was set to expire at the end of December without these new bills.
“My colleagues and I have been working for the last year to extend Michigan’s 90-Day Pre-Foreclosure Negotiation Law and continue to assist Michigan residents facing foreclosure, and upholding this law for twelve more months will give us time to continue working to address foreclosure in the state,” said Hunter. “However, these piecewise fixes that continue the law six months to a year at a time do not go far enough, and that is why I sought to extend it 42 months to provide some real long-term stability for Michigan homeowners.”
Governor Snyder signed Senate Bill 398 on July 1 to extend Michigan’s 90-Day Pre-Foreclosure Negotiation Law six months. It was set to expire at the end of December without the passage of this new legislation today. House Bills 4542-4544 extend the sunset on the 90-Day law for one year. During the Senate’s debate on these bills today, Senator Hunter offered an amendment that would extend the 90-Day law two-and-a-half years. This duration was previously recommended by foreclosure experts during work group meetings on this legislation. Unfortunately, Hunter’s amendment was defeated along party lines.
“Foreclosure is hurting our state and economy from all sides, and we should be fighting back in every way that we can,” Hunter said. “The passage of today’s legislation to extend the 90-day law is another victory in that battle, but we need to continue to forge ahead. I have other proposals to reform tax foreclosure auctions and help homeowners facing foreclosure, and I hope the Legislature continues to give Michigan’s foreclosure crisis its undivided attention.”
Senator Hunter has been pushing an aggressive plan to combat foreclosure in Michigan. Hunter’s Save MI Neighborhood agenda includes legislation that has already been passed to deter mortgage fraud as well as bills to address land speculation, fix tax foreclosure auctions and simplify borrowers’ interaction with banks and the courts in foreclosure proceedings. More information on his efforts can be found at www.saveMIneighborhood.com.
Sen. Hunter represents the 5th District, which is comprised of Northwest Detroit, Dearborn Heights and Inkster.He serves as the Minority Floor Leader. He is the Minority Vice Chair of the Senate Committee on Banking & Financial Institutions and the Senate Committee on Economic Development. He is a member of the Senate Government Operations Committee.