Michigan's Governor Rick Snyder recently signed into law
three bills regulating mortgage foreclosure by advertisement
proceedings in the State of Michigan. These bills are denominated
as Public Acts of 2011 ## 301-303, which affect certain provisions
of MCL §§ 600.3201, et seq. These bills became effective
upon their signing but most of their provisions apply to
foreclosures for which the initial notice is sent on or after Feb.
1, 2012.
Most, but not all, of these statutory changes affect foreclosure
of mortgages encumbering homestead property. In 2009, the Michigan
legislature enacted the Residential Mortgage Foreclosure Reform
Act, which changed certain procedures for foreclosure by
advertisement on homestead property. This act granted to homeowners
certain protections including requiring lenders to transmit
specific notices to homeowners by mail and by publication and also
to grant the homeowner an opportunity to negotiate modifications to
their home mortgage
