Yearly Archives: 2009

WASHINGTON, DC - May 20, 2009 - (RealEstateRama) — U.S. Senator Debbie Stabenow (D-MI) today praised President Obama for signing the Helping Families Save Their Homes Act of 2009 into law. The new law will makes it easier for homeowners and lenders to work together to prevent foreclosures. The legislation passed the Senate earlier this month.

May 20, 2009 - (RealEstateRama) — Long before the current national recession took hold, Michigan was dealing with a severe economic downturn. Still facing job losses and mounting debt in 2009, many state residents have been unable to continue making payments on their homes. As a result, Michigan has consistently had one of the highest foreclosure rates in the nation

WASHINGTON, DC - May 20, 2009 - (RealEstateRama) — U.S. Senator Debbie Stabenow (D-MI) today commended President Obama for signing the Fraud Enforcement and Recovery Act of 2009 into law. The new law will impose smart regulations on private mortgage brokers and lenders to prevent the same corporate frauds that helped lead to the collapse of our economy. It will also provide a blueprint to increase resources for law enforcement agencies, so they can effectively prosecute those responsible for engaging in fraudulent mortgage activity. The legislation passed the Senate in late April.“Holding irresponsible brokers and bankers accountable for their actions is a strong and clear signal to those who would contemplate risking our country’s financial future for personal gain,” said Stabenow.

LANSING, MI - May 20, 2009 - (RealEstateRama) — The Senate today unanimously approved conference committee reports to help save more homes in Michigan from foreclosure by encouraging greater communication between lenders and homeowners, said Randy Richardville, the Senate’s lead member of the conference committee.

May 13, 2009 - (RealEstateRama) — The National Association of REALTORS (NAR) is holding their annual Midyear meetings this week in Washington D.C. The mid year meetings provide an opportunity for each state association the chance to meet with their legislators on Capitol Hill in Washington D.C. The MAR Federal Political Coordinators, along with over 130 REALTORS® members from around the state, are in Washington D.C. this week to meet with members of the Michigan delegation on industry-related issues.

Washington D.C. - May 12, 2009 - (RealEstateRama) —The U.S. House of Representatives today voted 300-114 in favor of H.R. 1728, the Mortgage Reform and Anti-Predatory Lending Act, bipartisan legislation aimed at protecting homebuyers from predatory lending that has led to the recent mortgage crisis across the country.

May 12, 2009 - (RealEstateRama) — The foreclosure situation in my state of Michigan continues to be dire. According to data released by real estate firm RealtyTrac, even though there are less foreclosure filings than this time last year, there were still over 11,000 Michigan foreclosure filings in January 2009 alone. That’s one foreclosure filing for every 397 households IN JUST ONE MONTH, which puts Michigan’s foreclosure rate at the seventh highest in the nation. Nationwide, foreclosure filings are up 18% compared to this time last year.

WASHINGTON, DC - May 12, 2009 - (RealEstateRama) — U.S. Senator Debbie Stabenow (D-MI) today praised the Senate’s bipartisan passage of the Helping Families Save Their Homes Act of 2009. The bill makes it easier for homeowners and lenders to work together to prevent foreclosures.“Families across our state continue to struggle every day to make their mortgage payment while trying to make ends meet,” said Stabenow. “This much-needed legislation will help homeowners already making great sacrifices to keep their part of the American dream.”

LANSING, MI - May 12, 2009 - (RealEstateRama) — Legislation designed to help make property tax assessment notices easier to understand for homeowners was approved Wednesday by the Michigan Senate, said sponsor Sen. Roger Kahn, R-Saginaw Township.

LANSING, MI - April 30, 2009 - (RealEstateRama) — Sen. Randy Richardville’s monthly cable show, The Richardville Report, will premiere on Monday, May 4 at 7:30 p.m. with tips for residents on how to avoid foreclosure.

LANSING, MI - April 30, 2009 - (RealEstateRama) — Governor Jennifer M. Granholm together with Michigan State Housing Development Authority (MSHDA) Executive Director Keith Molin today announced over $7.5 million in grants to be distributed to 15 cities across the state through the Neighborhood Stabilization Program (NSP). The grants are the first round of NSP funding in Michigan that could total as much as $22 million over the next six to nine months. This initial funding will support the redevelopment of 116 residential units and the demolition of 276 blighted units throughout the state.

April 29, 2009 - (RealEstateRama) — Grand Hotel, located on Mackinac Island, has earned Green Lodging Michigan (GLM) Partner certification from the Michigan Department of Energy, Labor & Economic Growth (DELEG). Grand Hotel is eligible for Leader certification (the highest possible level) pending a site visit which will be conducted once the hotel opens for the 2009 season.

April 29, 2009 - (RealEstateRama) — Local Association Executives from across the state will meet in Lansing on May 1 to continue work on Michigan's Foreclosure Prevention and Response Initiative. With the continued economic downturn and mortgage foreclosure crisis expanding nationwide, NAR has allocated funding for state and local programs designed to assist REALTORS® and homeowners navigate the complex foreclosure process.

LANSING, MI - April 27, 2009 - (RealEstateRama) — Sen. Randy Richardville has been appointed to serve on a joint Senate and House conference committee regarding legislation that would help Michigan homeowners who are facing foreclosure.

LANSING, MI - April 24, 2009 - (RealEstateRama) — The Office of Financial and Insurance Regulation (OFIR) today announced that it is holding quarterly free seminars for the state's first and second mortgage licensees and registrants as well as for consumer financial services licensees. The next seminar takes place on May 6, 2009 at Western Michigan University's Grand Rapids Graduate Center.