Archives

LANSING, MI - March 9, 2010 - (RealEstateRama) -- Today Senator Gretchen Whitmer (D-East Lansing) offered the following statement on the need to protect Michigan consumers from foreclosure scams, and her legislation to help do so. Senate Bill 930, Whitmer's legislation to develop qualifications and regulations on foreclosure consultants, was introduced in October 2009 and is currently awaiting action by the Senate Banking and Financial Institutions Committee.

LANSING, MI - January 18, 2010 - (RealEstateRama) -- Today, State Senator Gretchen Whitmer (D-East Lansing), originally of Cascade, announced that her entire December legislative expense account was donated to a Grand Rapids foreclosure assistance program to highlight the need for government reform and more transparency in state spending.

LANSING, MI - August 20, 2009 - (RealEstateRama) -- Senator Tom George will be introducing legislation allowing for the creation of a Detroit/Wayne County Redevelopment Authority. A redevelopment authority would enable the city and county to develop a cohesive strategy for stabilizing and redeveloping tax-reverted properties, the lawmaker announced today

Funds made available through the American Recovery and Reinvestment Act. WASHINGTON, DC - July 15, 2009 - (RealEstateRama) -- U.S. Senators Debbie Stabenow (D-MI) and Carl Levin (D-MI) announced today that Michigan has received $42,136,000 to support six different water infrastructure projects—$9,064,000 in grant funding and $33,072,000 in loan funding—through the USDA Rural Development’s Water and Environmental Program. Funds are made available through the American Recovery and Reinvestment Act (ARRA).

WASHINGTON, DC - July 15, 2009 - (RealEstateRama) — More than $1.9 million will be granted to three Michigan wind energy projects, U.S. Senators Debbie Stabenow and Carl Levin, both D-Mich., announced today. The funds, disbursed by the Department of Energy and allocated by the American Recovery and Reinvestment Act passed in February, will help Dow Corning, Michigan Aerospace Corporation, and the University of Michigan in Ann Arbor develop wind power, which is fast growing as a source of clean electricity across the nation.“A wind turbine has over 8,000 individual parts and they all can be made right here in Michigan,” said Stabenow. “I am pleased these grants will support the important research efforts happening across our state as we continue to lead the way in developing clean energy technologies in the 21st century economy.”

WASHINGTON, DC - June 30, 2009 - (RealEstateRama) — U.S. Senators Carl Levin (D-MI) and Debbie Stabenow (D-MI) today hailed news that the U.S. Department of the Treasury has awarded $2 million to Communicating Arts Credit Union in Detroit through the Community Development Financial Institutions (CDFI) Fund. The funding will be used to expand lending and services in the Highland Park community.

LANSING, MI - June 19, 2009 - (RealEstateRama) — Sen. Randy Richardville, chair of the Senate Banking and Financial Institutions Committee, today participated in a bill signing ceremony for legislation that will help save more homes in Michigan from foreclosure.

LANSING, MI - May 26, 2009 - (RealEstateRama) — Sen. Cameron S. Brown, chair of the Senate Homeland Security and Emerging Technologies Committee, and five fellow Senate committee chairs are encouraging the rehabilitation - rather than the demolition - of Detroit's historic Michigan Central Depot property.

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.

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.”

April 07, 2009 - (RealEstateRama) — Homeowners, neighborhoods and communities are best served when people are able to remain in their homes. Families across our state are struggling to do just that, and I want to make sure they have a fighting chance. That’s why I am working on measures to protect homeowners from property tax increases that are out of step with their home’s actual value

LANSING, MI - January 22, 2009 - (RealEstateRama) — A recently signed mortgage reform measure, sponsored by Sen. Randy Richardville, is the senator’s 18th bill to become a public act during the 2007-2008 legislative session.