Granholm Applauds House Action On Bills to Combat Mortgage Foreclosure
Michigan Chronicle › August 21, 2009
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Summary
Gov. Jennifer M. Granholm recently commended the state House for passing bills that would help protect Michigan homeowners facing mortgage foreclosures by offering new refinancing options and called on the state Senate to take swift action on the proposals.
"We have developed a great program and some great mortgage tools to help protect hardworking homeowners who are facing mortgage foreclosures," Granholm said."During these difficult economic times, Michigan's working families are struggling to make ends meet, and too many of our middle-class families are at risk of losing their homes and seeing the American Dream slip away," said Majority Floor Leader Steve Tobocman (D-Detroit).The two MSHDA initiatives are: * The Adjustable Rate Mortgage (ARM) Refinance Program that will assist homeowners who have an ARM in refinancing to a lower-interest, fixed-rate loan; * The Rescue Refinance Program that will assist individuals who have a delinquency on their mortgage and who are at risk of losing their home.See the full content of this document
Extract
Granholm Applauds House Action On Bills to Combat Mortgage Foreclosure
Gov. Jennifer M. Granholm recently commended the state House for passing bills that would help protect Michigan homeowners facing mortgage foreclos...
See the full content of this document
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