Governor signs bills aimed at easing mortgage foreclosure crisis

Tools

By Tiffany Griffin

Story Created: Apr 2, 2008 at 10:24 AM EST

Story Updated: Apr 2, 2008 at 10:24 AM EST

LANSING, Mich. (AP) — Governor Jennifer Granholm has signed bills aimed at making state housing loan programs available to more Michigan residents.

The bills signed Wednesday are designed to help lessen the wave of mortgage foreclosures gripping Michigan.

Some homeowners struggling with rising adjustable rate mortgages will be able to get lower fixed rate loans through the Michigan Housing Development Authority.

Another program helps people who have been delinquent on payments and are at risk of losing their homes.

The programs will be paid for by taxable bonds. Homeowners will be responsible for the full value of their refinanced mortgages.

More Good Stuff

WSBT Weather

Current Temp 45.3

More Weather

WSBT Weather

More Weather

On Demand

iPhone
Get the WSBT News and Irish Sports Report apps for your iPhone! Read more »
On DVD
Order a DVD of a WSBT news story! Read more »
Twitter
Follow us on Twitter! Read more »
Facebook
Connect with us on Facebook! Read more »
WSBT E-News
Daily StormTracker e-mails right to your Inbox! Read more »
Video On Demand
Miss a story on WSBT News? Watch it here! Read more »
CBS Shows
Watch CBS shows and news online, free! Read more »
WSBT Alert
Breaking News & Weather right to your cell phone! Read more »
Mobile
WSBT News on the go for your cell phone or PDA. Read more »
RSS Feeds
Get news and updates as soon as they're published. Read more »

Stock Quotes

YouNews

This content requires the latest Adobe Flash Player and a browser with JavaScript enabled. Click here for a free download of the latest Adobe Flash Player.