State Rep. Paul Opsommer today introduced legislation to help protect struggling Michigan homeowners from additional fees and criticized the governor for not taking an active role supporting other existing homeowner relief efforts.
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\nOpsommer said many potential Michigan laws have been introduced to help with the mortgage meltdown, but they remain stalled in legislative committees by those waiting on a “federal solution.”\u00a0
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\n\u201cMichigan should not continually wait for federal handouts to try to provide relief for our state’s homeowners,\u201d said Opsommer, R-DeWitt.\u00a0 \u201cWe need to take the bull by the horns and lead by example.\u00a0 If we want help, we first have to show that we are willing to help ourselves.\u201d
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\nSome pro-homeowner measures, such as an effort to increase credits to offset property taxes, were the very first laws introduced for this legislative session but have languished since January 2009.
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\nOpsommer\u2019s new bills, House Bills 6402 and 6413, are steps that can be taken to make an important difference to help homeowners trying to keep up with mortgage payments or reversing foreclosure.\u00a0 Opsommer warned particularly of a new fee gaining popularity in other states that he does not want to see gain traction in Michigan.
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\n\u201cHB 6402 prohibits so called \u2018residential transfer\u2019 or \u2018capital recovery\u2019 fees, where every time an original or subsequent owner sells\u00a0a home they have to pay 1 percent of the total transaction to the original developer for a period lasting 99 years,\u201d Opsommer said.\u00a0 \u201cThat is utter nonsense that strips away hard earned equity from homeowners.\u00a0 When you voluntarily pay a real estate agent to sell your home, you are getting a service.\u00a0 But these new developer fees just pick homeowner\u2019s pockets and would amount to the loss of $2,000 on the sale of a $200,000 home.\u201d
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\n\u00a0Ohio recently became the 11th state to outlaw the new fees, which are most often inserted into the fine print of subdivision covenants.
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\nHB 6413 is designed to help homeowners reclaim foreclosed property. Some homeowners have been charged up to $350 just to find out how much money it would take to reclaim their home or have never been given the needed information at all.
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\n\u201cWe have the ability to fix these loopholes, save homeowners money, and protect them from deceptive fees,\u201d Opsommer said. \u201cBut the longer we wait on Washington for answers ends up being time lost\u00a0for passing laws of our own.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
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