Consumer Financial Services Law Blog
Dykema Gossett PLLC
Dykema Gossett PLLC

Consumer Financial Services Law Blog

Consumer Financial Services Law Blog

News and analysis regarding Consumer Financial Services litigation and regulation, and activities of the Consumer Financial Protection Bureau

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Photo of Consumer Financial Services Law Blog Brian J. Page
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Changes to Michigan Foreclosure Law May Result in Early Termination of Mortgagor's Redemption Right

In January 2014, the Michigan Legislature added a provision to MCL 600.3240 which significantly altered the redemption right of a delinquent borrower whose property is foreclosed and sold via foreclosure by advertisement. The new provision in Section 3240 expanded the rights of purchasers of foreclosed property by providing them with authority to inspect the interior and exterior of the foreclosed property during the redemption period (which varies depending on the circumstances from 30 days to 1 year, but is typically 6 months). Read More ›