Governor Gretchen Whitmer and the Department of Insurance and Financial Services announced the creation of the MiMortgage Relief Partnership with financial institutions in the state. Participating institutions will offer mortgage-payment forbearance for 90 days, allowing borrowers to reduce or delay their monthly mortgage payment. Additionally, they will waive or refund mortgage-related late fees for at least 90 days, forego new foreclosures for 60 days, refrain from reporting adverse credit scoring based on the borrower’s accessing relief, among others.
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