Civil procedure: foreclosure; distribution of proceeds from mortgage foreclosure auctions; modify. Amends secs. 3240 & 3252 of 1961 PA 236 (MCL 600.3240 & 600.3252). TIE BAR WITH: HB 5152'25

Summary

The legislation amends Michigan’s foreclosure statutes to clarify how and when a mortgagor can redeem a foreclosed property, what amounts must be paid, and how long the redemption window lasts. It sets specific redemption periods based on property type, loan date and abandonment status, and outlines fees for registrars and designees. The changes affect borrowers, foreclosure purchasers, and county register of deeds offices.

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