Bill Text: MI SB1102 | 2017-2018 | 99th Legislature | Engrossed

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Bill Title: Civil procedure; other; foreclosure by advertisement; require notice of foreclosure to include information to mortgagor. Amends sec. 3212 of 1961 PA 236 (MCL 600.3212).

Spectrum: Partisan Bill (Republican 1-0)

Status: (Engrossed - Dead) 2018-11-29 - Referred To Committee On Regulatory Reform [SB1102 Detail]

Download: Michigan-2017-SB1102-Engrossed.html

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SB-1102, As Passed Senate, November 29, 2018

 

 

 

 

 

 

 

 

 

 

 

 

SENATE BILL No. 1102

 

 

September 5, 2018, Introduced by Senator JONES and referred to the Committee on Regulatory Reform.

 

 

 

     A bill to amend 1961 PA 236, entitled

 

"Revised judicature act of 1961,"

 

by amending section 3212 (MCL 600.3212), as amended by 2011 PA 301.

 

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 

     Sec. 3212. Every A notice of foreclosure by advertisement

 

shall must include all of the following:

 

     (a) The names of the mortgagor, the original mortgagee, and

 

the foreclosing assignee, if any.

 

     (b) The date of the mortgage and the date the mortgage was

 

recorded.

 

     (c) The amount claimed to be due on the mortgage on the date

 

of the notice.

 

     (d) A description of the mortgaged premises that substantially

 

conforms with the description contained in the mortgage.

 

     (e) A description of the property by giving its street

address, if any. The validity of the notice and the validity of any

 

eventual sale under this chapter are not affected by the fact that

 

the street address in the notice is erroneous or that the street

 

address is omitted.

 

     (f) (e) For a mortgage executed on or after January 1, 1965,

 

December 31, 1964, the length of the redemption period as

 

determined under section 3240.

 

     (g) (f) A statement that if the property is sold at a

 

foreclosure sale under this chapter, under section 3278 the

 

borrower will be held responsible to the person who buys the

 

property at the mortgage foreclosure sale or to the mortgage holder

 

for damaging the property during the redemption period.

 

     (h) The name, address, and telephone number of the attorney

 

for the party foreclosing the mortgage.

 

     (i) A statement in the following form: "This firm is a debt

 

collector attempting to collect a debt. Any information we obtain

 

will be used for that purpose.".

 

     (j) For a residential mortgage, a statement in the following

 

form: "Attention homeowner: Are you a homeowner who is having

 

trouble making your mortgage payments? There are a number of

 

programs from a variety of organizations to help you. The Michigan

 

state housing development authority, or MSHDA, can help if you are

 

having financial trouble and need help finding local resources.

 

Information is available, and MSHDA can be reached, by going to

 

their website, www.housing.state.mi.us, or by calling 517-373-8370.

 

Military service members and honorary discharged veterans can

 

contact the Michigan veterans homeowners assistance program at 877-

664-2233. Please contact the telephone number for the attorney for

 

the party foreclosing the mortgage if you are in active military

 

duty.".

 

     (k) A statement in the following form: "Notice of foreclosure

 

by advertisement. Notice is given under section 3212 of the revised

 

judicature act of 1961, 1961 PA 236, MCL 600.3212, that the

 

following mortgage will be foreclosed by a sale of the mortgaged

 

premises, or some part of them, at a public auction sale to the

 

highest bidder for cash or cashier's check at the place of holding

 

the circuit court in ________ County, at (time), on (date). The

 

auction sale will close at (time). The sale will be made, but

 

without covenant or warranty, expressed or implied, regarding

 

title, possession, or encumbrances, to pay the remaining principal

 

sum of the note or notes secured by the mortgage, with interest and

 

late charges on the remaining principal sum, as provided in the

 

note or notes, advances, under the terms of the mortgage, interest

 

on the advances, fees, and charges and expenses of the attorney,

 

for the total amount, at the time of the initial publication of the

 

notice of foreclosure, reasonably estimated to be set forth below.

 

The amount may be greater on the day of the sale. Placing the

 

highest bid at the sale does not automatically entitle the

 

purchaser to free and clear ownership of the property. The

 

purchaser is encouraged to investigate the existence, priority, and

 

size of any other outstanding liens that may exist on this property

 

by contacting the county register of deeds office or a title

 

insurance company, either of which may charge a fee for this

 

information.".

     Enacting section 1. This amendatory act takes effect 90 days

 

after the date it is enacted into law.