MI HB4767

Amends MCL 600.3240 to reduce redemption periods for mortgage foreclosures by 120 days when the foreclosing party complies with federal loss mitigation procedures under section 3206.

Applies the 120-day reduction to redemption periods under subsections (7), (8), and (13), affecting commercial, industrial, multifamily residential, and standard residential property foreclosures.

Changes the abandoned property redemption period from 3 months to 2 months under subsection (9) and maintains the 1-month period for abandoned residential property when the mortgage amount is more than 66-2/3% of original indebtedness.

Requires the purchaser to provide an affidavit stating the exact redemption amount and establishes a $5.00 fee for register of deeds care and custody of redemption money.

Creates a conditional enactment clause making this amendment effective only if House Bills 4764, 4765, and 4766 are also enacted into law.