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.