Fighting Foreclosures USA (wgvu) - LANSING, Mich. (AP) - Bills aimed at making state housing loan
programs available to more Michigan residents have passed the state
Senate.
Some of the bills overwhelmingly approved Thursday soon should
be headed to Governor Jennifer Granholm for her signature. Other
bills in the package are headed for the state House.
The bills could help lessen the wave of mortgage foreclosures
gripping Michigan. Some homeowners struggling with rising
adjustable rate mortgages would be able to get lower fixed rate
loans through the Michigan Housing Development Authority.
At-risk low and moderate-income residents would be eligible
depending on their credit scores.
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