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7:28 am
Wed March 11, 2009

MI House passes reprieve for homeowners

Lansing, MI – LANSING (MPRN) - State House Democrats approved a plan to give Michigan homeowners a 90-day reprieve when facing foreclosure. Democrats say the bill will benefit borrowers and lenders.

But House Republicans say the measure would flood courts with too many new lending disputes.

Democrat Andy Coulouris sponsored the plan. He says some lenders may not like the bill, but the reprieve will help protect home values, which benefits everyone in Michigan.