Legislature Amends Foreclosure by Advertisement Statute

Act 142 of the Public Acts of 2019, signed by Michigan's governor on December 11, 2019, and going into effect on January 11, 2020, makes some revisions to the language required in a notice of foreclosure by advertisement.  New provisions include a statement about a servicemembers rights and a warning to prospective bidders that purchasing at sale may not give them free and clear title.  Also included is a requirement that the street address be listed, although the statute provides that failure to include the street address, or including an incorrect street address, will not invalidate the sale.

This author has omitted street addresses from foreclosure notices for over 20 years; when he used to publish street addresses, he received anecdotal evidence that scammers were knocking on mortgagee doors.  However, street addresses are now mandatory.

By extension, the new changes also pertain to a foreclosure of a condominium lien by advertisement.

© Steve Sowell 2022