Michigan Lawmakers Propose Move To Slash Post-Foreclosure Redemption Period In Half

The Grand Rapids Press reports:

• When Saxon Mortgage foreclosed on Thomas Price’s home of nearly 30 years, the disabled Vietnam veteran was able to raise $6,000 to regain his [...] house during a six month redemption period. It took the 61-year-old man — who suffers from an incurable respiratory illness — five months to raise that money. That would be two months too late under a new bill in the state House.
• The state-mandated redemption period would be permanently shortened to three months from six under the bill.

For more, see Does proposed Michigan foreclosure law kick owners out too quickly?