PLYMOUTH, Mich.-The Michigan Credit Union League (MCUL) has held the first of two Economic Summits with credit unions leaders at the Michigan CU Center. The league reported that the foreclosure process dominated the discussion, with ideas presented on making the process more practical for lenders by shortening redemption periods, allowing the lender to obtain titles more quickly on abandoned homes, and adding penalties to help mitigate damage to property during the process. The Filene Research Institute‚s George Hofheimer was also on hand to update on progress on a report commissioned by the Michigan CU Foundation on the housing crisis in Michigan.
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