May 21, 2008
LANSING - Governor Jennifer M. Granholm today signed a bill that protects military service members from the threat of mortgage foreclosure. The bill prevents foreclosure on future home purchases for six months after the end of an owner's military service.
"Military service members are protecting our families every day, the least we can do is protect their dream of homeownership," Granholm said. "When military service members return to their families and their communities here in Michigan, the last thing they should have to worry about is losing their home," Granholm said.
Public Act 138 amends the Revised Judicature Act by allowing a court to issue a stay on mortgage foreclosure proceedings for six months after the end of the individual's military service. Under the new law, mortgage servicers who attempt to sell or foreclose real estate that has received a stay from the court could be subject to a $2,000 civil fine.
"The men and women in the armed forces have enough to worry about during their time overseas," said Senator Dennis Olshove (D-Warren). "This will give veterans a fair chance to deal with their housing challenges and keep their homes after fulfilling their service commitments. These citizens answered the call of duty, and now we're answering their call for help."
This new law is just the latest action in the Granholm administration's efforts to help protect military members when they return home to Michigan from service. Last month, the Governor signed a bill that guarantees citizens who serve on active duty in the armed forces or National Guard the opportunity to get their jobs back upon their return from duty. The legislation allows qualified military personnel to file civil actions against employers if they are denied reemployment.
Senate Bill 749 (PA 138) was sponsored by Senator Dennis Olshove (D-Warren). The bill was given immediate effect.
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