HOUSE BILL No. 6349

 

November 10, 2004, Introduced by Reps. Adamini, LaSata, Lipsey, Condino, Gillard and Howell and referred to the Committee on Judiciary.

        

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                 A bill to amend 1961 PA 236, entitled                                             

                                                                                

    "Revised judicature act of 1961,"                                           

                                                                                

    by amending section 2431 (MCL 600.2431).                                    

                                                                                

                THE PEOPLE OF THE STATE OF MICHIGAN ENACT:                      

                                                                                

1       Sec. 2431.  (1) The expenses of foreclosing any mortgage by                 

                                                                                

2   advertisement shall be taxed in the circuit court as in civil               

                                                                                

3   actions upon the request of any person paying the expenses                  

                                                                                

4   thereof, and upon such party liable to pay the same.                        

                                                                                

5       (2)  Where  If an attorney is employed to foreclose a                       

                                                                                

6   mortgage by advertisement,  an  a reasonable attorney's fee, not            

                                                                                

7   to exceed  exceeding any amount  which may be  for attorney's              

                                                                                

8   fees provided for in the mortgage, may be included as a part of             

                                                                                

9   the expenses in the amount bid upon such sale for principal and             

                                                                                

10  interest due thereon.  in the following amounts:                            

                                                                                

11      (a) for all sums of $1,000.00 or less, $25.00.                              

                                                                                


                                                                                

1       (b) for all sums over $1,000.00 but less than $5,000.00,                    

                                                                                

2   $50.00.                                                                     

                                                                                

3       (c) for all sums of $5,000.00 or more, $75.00.                              

                                                                                

4       But if payment is made after foreclosure proceedings are                    

                                                                                

5   commenced and before sale is made, only 1/2 of such attorney's              

                                                                                

6   fees shall be allowed.  Both the principal and the interest due             

                                                                                

7   thereon shall be included in the sum on which the attorney's fee            

                                                                                

8   is computed.