HB-4455, As Passed Senate, April 2, 2009

SENATE SUBSTITUTE FOR

HOUSE BILL NO. 4455

     A bill to amend 1961 PA 236, entitled

"Revised judicature act of 1961,"

(MCL 600.101 to 600.9947) by adding sections 3205c, 3205d, and

3205e; and to repeal acts and parts of acts.

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

     Sec. 3205c. If a borrower has contacted a housing counselor

under section 3205b but the process has not resulted in an

agreement to modify the mortgage loan, the borrower, housing

counselor, or the person designated under section 3205a(1)(c) shall

calculate a modified payment amount under the FDIC workout program.

The person designated under section 3205a(1)(c) shall provide the

borrower with a copy of any calculation made by the person under

this subsection.

     Sec. 3205d. The Michigan state housing development authority

shall develop the list of housing counselors approved by the United

States department of housing and urban development or by the

Michigan state housing development authority who may perform the

duties of housing counselor under sections 3205a to 3205c.

     Sec. 3205e. Sections 3205a to 3205d are repealed effective 2

years after the effective date of the amendatory act that added

this section.

     Enacting section 1. This amendatory act takes effect 30 days

after the date it is enacted into law.

     Enacting section 2. This amendatory act does not take effect

unless all of the following bills of the 95th Legislature are

enacted into law:

     (a) House Bill No. 4453.

     (b) House Bill No. 4454.