Mortgage settlement bills signed by governor

LANSING— Sen. Darwin Booher, R-Evart, and Attorney General Bill Schuette recently joined Gov. Rick Snyder at the Capitol as he signed legislation to help residents struggling with foreclosure.

Public Act 295 of 2012 creates the Homeowner Protection Fund, which will receive $97.2 million from five major banks as part of a settlement with the Michigan attorney general’s office. PA 296 appropriates the money to help prevent foreclosures, alleviate the effects of the crisis and prosecute foreclosure-related crimes.

“Mortgage fraud impacts entire communities and all taxpayers,” said Booher, chair of the Senate Banking and Financial Institutions Committee. “This fund is designed to help preserve the American dream of homeownership by assisting those families affected by fraud or unfair practices. It also will help prevent more families from losing their homes and builds on the mortgage fraud crackdown legislation we enacted last year.”

Residents may visit www.michigan.gov/mortgagesettlement for more information on the fund.

Pictured with the governor from left to right: Rep. Chuck Moss, R-Birmingham; Schuette; Booher; Sen. Roger Kahn, R-Saginaw; and Sen. Tom Casperson, R-Escanaba.

A print-quality photograph of Booher with Gov. Snyder is available by clicking on the image or by visiting the senator’s photowire at: www.misenategop.com/senators/photowire.asp?District=35.

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