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Thu Jan 29, 2009 at 17:24:40 PM EST
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| Today as the Senate debated repealing the Michigan Business Tax Surcharge, Senate Democrats made a push to add legislation that would keep homeowners facing foreclosure from losing their homes: http://tinyurl.com/caaxoc. Senator Buzz Thomas (D- Detroit) proposed adding a package of bills to the MBT surcharge repeal that includes placing a moratorium on foreclosures, allowing struggling homeowners to stay in their homes and make reduced payments until they can get back on their feet.
These foreclosure bills ( http://tinyurl.com/b8hujf ) were originally introduced early 2008 by Senator Hansen Clarke (D-Detroit) and were sent to the Senate Committee on Banking and Financial Institutions where they did not receive a hearing. This legislation would also help those whose landlords are going into foreclosure by giving them a 90 day notice and also requiring the new owner to hold to the terms of the tenants lease.
Foreclosure rates are continuing to hurt Michigan's economy and during these tough times, this crisis can be stabilized by implementing this legislation as stated by Senator Clarke: http://tinyurl.com/c5qc49. By tie barring foreclosure protection legislation to the MBT Surcharge repeal Senate Democrats hoped to tackle two of Michigan's largest problems: jobs and foreclosures. Although the motion to attach foreclosure protections to the repeal failed on a party line vote, Senate Democrats will continue their fight to keep people in their homes and continue to push legislation that will help do just that. |
| Senate Dems :: Senate Democrats Continue Fight for Foreclosure Protection |
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