GOP Bill Would Let Companies Foreclose On Your House For Unpaid Credit Card Debt

The Dick DeVos Controlled GOP Michigan Legislature Also Pushing The Concept Of Debtors Prisons

Steve Dibert, MFI-Miami

A bill introduced by the minions of Billionaire Dick DeVos (of Amway fame) in the GOP controlled Michigan Senate would allow credit card companies and other creditors to place liens on your home and then allow them to foreclose as a lien holder.  This bill if passed would take advantage of a loophole in Michigan’s foreclosure laws that allow a creditor to take possession of someone’s home even if that creditor is not in first lien position.

A staffer from the Republican Senate Caucus also informed me this morning that in the next session the GOP plan to make it easier for creditors not only seize property but to get judgments against consumers and put them in prison if they don’t pay.

Senate Bill No

 

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