The Michigan Supreme Court this afternoon issued a short (two page) Order that reversed the Court of Appeals opinion in Residential Funding Co. v Saurman, which I discussed previously. The Saurman opinion in the Court of Appeals had ruled that Mortgage Electronic Registration Systems, Inc. (“MERS”) could not foreclose by advertisement in the State of [...]
When purchasing or selling real property in Michigan, parties often rely on their real estate agent to guide them through the process with their best interests in mind. However, this is only true of the buyer only agent or seller only agent. A dual agent, who represents both the buyer and seller in a transaction, [...]
On May 19, 2009, the Michigan Legislature passed a package of three bills designed to give homeowners facing foreclosure a ninety-day window to meet with their lender and modify the terms of their mortgage. With the state facing one of the highest foreclosure rates in the nation, lawmakers hope these new laws will ease the [...]
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