Michigan’s foreclosure laws give homeowners a safety net and market stability

Michigan’s Public Act 29 of 2009 has been a lifeguard for many of Michigan residents facing foreclosure. In May of 2009, Governor Jennifer M. Granholm signed into law, House Bills 4453, 4454, 4455. This legislation addresses a sweeping virus of foreclosures in Michigan and real estate market instability. This act of Michigan Legislature is not a permanent change to existing foreclosure law and is set to expire July 5, 2011.