Chapter 2 (125.1421...125.1449v)

  1. Law
  2. Michigan Compiled Laws
  3. Planning, Housing, and Zoning
  4. 346 of 1966 - State Housing Development Authority Act of 1966 (125.1401 - 125.1499c)
  5. Chapter 2 (125.1421...125.1449v)

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Section
125.1421

Michigan State Housing Development Authority; Creation; Composition; Appointment, Qualifications, and Terms of Members; Vacancy; Expenses; Certificate of Appointment or Reappointment; Designated Resident Members; Powers Vested in Members; Quorum; Actions of Authority; Findings of Fact; Meetings; Chairperson and Vice-Chairperson; Officers, Agents, and Employees; Delegation of Powers and Duties; Relationship to Department of Consumer and Industry Services; “Section 8” Defined.

Section
125.1422

Powers of Authority.

Section
125.1422a

Rehabilitation of Residential Real or Rental Property; Loans, Grants, or Deferred Payment Loans to Persons and Families of Low and Moderate Income; Loans to Persons in Areas of Chronic Economic Stress and to Persons Located Elsewhere in State; Powers of Authority; Participation or Cooperation With Governing Bodies, Private Organizations, or Public Organizations; Plan; Selection of Neighborhoods.

Section
125.1422b

Designation of Authority as Housing Credit Agency; Purpose; Amount of Housing Credit Ceiling; Qualification of Applicant; Allocation Plan; Distribution; Setting Aside Allocable Amounts; Reapportionment of Unallocated Credit Amounts; Applications for Low Income Housing Tax Credit; Fees; “Rural Housing Projects” Defined.

Section
125.1422c

Subsidiary Nonprofit Housing Corporation.

Section
125.1422d

Investments.

Section
125.1423

Housing Development Fund; Creation; Payments Into Fund.

Section
125.1424

Housing Development Fund; Advances; Grants; Transfer of Moneys.

Section
125.1424a

Land Acquisition and Development Fund; Creation; Payment of Moneys Into Fund.

Section
125.1424b

Land Acquisition and Development Fund; Use of Moneys; Acquisition and Exchange of Real Property; Improvements to Real Property; Costs; Conveyance of Real Property.

Section
125.1424c

Transfer of Moneys to Housing Development Fund or Rehabilitation Fund.

Section
125.1424d

Rehabilitation Fund; Creation; Jurisdiction; Payments.

Section
125.1424e

Rehabilitation Fund; Use of Moneys; Allocations or Pledges to Holders of Bonds.

Section
125.1424f

Recapture Tax Fund; Creation; Establishment; Payment; Use.

Section
125.1424g

Repealed. 1985, Act 183, Imd. Eff. Dec. 18, 1985.

Section
125.1425

Bonds and Notes; Issuance; Purposes; Issuing Renewal Notes, Bonds to Pay Notes and Refunding Bonds; Notes or Bonds as General Obligations and Negotiable Instruments; Revised Municipal Finance Act Inapplicable; Issuance Subject to Agency Financing Reporting Act.

Section
125.1426

Bonds and Notes; Authorization; Terms.

Section
125.1427

Notes or Bonds; Resolution Authorizing Issuance; Contents.

Section
125.1428

Notes and Bonds; Validity and Effect of Pledge.

Section
125.1429

Notes and Bonds; Personal Liability of Members of Authority.

Section
125.1430

Notes and Bonds; Purchase for Cancellation; Price.

Section
125.1431

Notes and Bonds; Liability of State.

Section
125.1432

Capital Reserve Fund; Definitions; Federal Housing Subsidy Programs; Recommendations; Priority; Program of Loans for Mobile Homes; Program of Loans for Consumer Housing Cooperatives; Notice of Public Hearing or Proposed Rule Change; Rules; Identification of Housing Production Goals; Report to Governor and Committees; Review of Loans, Financial Instruments, and Lines of Credit; Confidentiality.

Section
125.1432a

Issuance of Bonds to Finance Single Family Homes; Previous Ownership Interest; Publicizing Program; Report to Legislature; Section Inapplicable to Refinancing Single Family Homes.

Section
125.1432b

Mortgage Credit Certificate Program; Authority Designated as Administrator; Guidelines; Qualifying for Receipt of Mortgage Credit Certificate; Adaptation of Property for Use by Disabled Individuals; Family Income Limits; Applicability of Internal Revenue Code; Exception; Retroactive Effect of Changes in Subsections (3) and (4).

Section
125.1432c

Repealed. 1988, Act 496, Eff. Mar. 30, 1989.

Section
125.1432d

Legislative Intent.

Section
125.1433

General Reserve Fund; Creation; Payments Into Fund; Use of Fund.

Section
125.1434

Notes and Bonds; Pledge and Agreement of State.

Section
125.1435

Trustee; Default; Powers and Duties.

Section
125.1436

Trustee; Additional Powers.

Section
125.1437

Venue.

Section
125.1438

Notes and Bonds; Notice; Declaration, Due and Payable.

Section
125.1439

Money of Authority; Deposit; Security for Deposits; Contracts With Holders of Notes or Bonds; Security for Money Held in Trust; System of Accounts; Spending for Operating Purposes; Periodic Audits; Copies.

Section
125.1440

Notes and Bonds; Legal Investment.

Section
125.1441

Faith and Credit Bonds.

Section
125.1442

Property of Authority; Exempt From Taxation.

Section
125.1443

Notes and Bonds; Exemption From Taxation.

Section
125.1443a

Authorization of Covenant and Consent.

Section
125.1444

Loans; Purposes; Conditions; Amount; Eligibility; Sales and Resales; Long-Term Financing or Refinancing; Securing and Repaying Loans; Interest Rate; Misrepresentation of Income; Loans for Newly Rehabilitated, Newly Constructed, or Existing 1- to 4-Unit Housing Units; Definitions.

Section
125.1444a

Rehabilitation Loans, Grants, or Deferred Payment Loans; Eligibility; Secured or Unsecured Loans or Grants; Insurance; Reserve; Interest; Terms and Conditions; Rules; Persons and Families of Low and Moderate Income; Maximum Principal Loan Amounts; Minimum Age of Structure.

Section
125.1444b

Loans to Mortgage Lenders; Authorized Purchases and Commitments; Requirements and Conditions; Report.

Section
125.1444c

Use of Proceeds of Notes or Bonds; Qualification as Rehabilitation; Establishment of Higher Income Limits; Eligibility for Occupancy; Application; Issuance of 6-Month Commitment to Loan Funds; Limitation on Outstanding Loan Commitments; Fees; Direct or Indirect Loan; Sale, Refinancing, or Resyndication; Allowable Distributions; Report to Authority; Authority-Aided Mortgage; Monitoring Compliance; Remedies; Regulation; Liability; Priority Consideration; Unified Volume Cap Not as Impairment; Student Housing Project.

Section
125.1444d

Authorized Loans; Purpose; Criteria.

Section
125.1444e

Income Eligibility Standards Applicable to Tenant of Housing Project.

Section
125.1444f

Loan for Housing Project in Effectively Treatable Area; Demonstration of Community Support; Return on Investment.

Section
125.1444g

Enforcement of Promises or Commitments; Action to Be Brought Against Authority.

Section
125.1445

Preference to Displaced Persons.

Section
125.1446

Discrimination.

Section
125.1447

Obtaining Money, Property, or Service With Intent to Defraud or Cheat; Penalty; Determination of Total Value; Prior Convictions; Prohibited Use.

Section
125.1448

Foreclosure Procedures Applicable to Authority.

Section
125.1448a

Jurisdiction to Foreclose Mortgages and Land Contracts Held by Authority.

Section
125.1448b

Other Civil Actions.

Section
125.1448c

Bringing Amount Due Into Court Before Judgment of Sale; Dismissal of Complaint.

Section
125.1448d

Sale of Premises Pursuant to Circuit Court Order.

Section
125.1448e

Bringing Amount Due Into Court After Judgment of Sale; Stay of Proceedings; Subsequent Default.

Section
125.1448f

Public Sale of Land by County Clerk, Deputy County Clerk, or Other Authorized Person; Hours; Location; Sale Subject to MCL 600.6091.

Section
125.1448g

Deed of Sale; Execution; Operation; Right, Title, and Interest Vested in Grantee; Recordation; Redemption of Premises.

Section
125.1448h

Sale Proceeds; Application to Discharge of Debt; Surplus; Interest.

Section
125.1448i

Redemption of Premises; Effect on Deed of Sale; Affidavit.

Section
125.1448j

Adding Property Tax and Insurance Premium Payments Made After Foreclosure to Amount Due in Judgment; Determination of Additional Liability; Affidavits; Receipt; Redemption.

Section
125.1448k

Personal Liability on Land Contract or for Mortgage Debt; Original Judgment; Deficiency; Delivery of Premises to Purchaser; Order.

Section
125.1448l

Forfeiture, Foreclosure, or Specific Performance Proceedings; Minimum Price.

Section
125.1448m

Land Contract or Mortgage Debt Secured by Evidence of Debt of Person Other Than Vendee or Mortgagor; Party; Court Order.

Section
125.1448n

Sale of Premises; Default Subsequent to Judgment.

Section
125.1448o

Action to Discharge Mortgage or Land Contract; Judgment Entered by Court; Contents; Minutes; Delivery of Judgment to Authority; Recordation of Judgment.

Section
125.1448p

Equitable Actions.

Section
125.1449

Foreclosure by Advertisement.

Section
125.1449a

Right of Authority to Give Notice and Make Foreclosure; Conditions; Mortgage Securing Payment of Money by Installments; Installment as Separate and Independent Mortgage; Foreclosure and Redemption.

Section
125.1449b

Notice of Sale; Publication; Posting Copy of Notice Upon Premises.

Section
125.1449c

Notice of Sale; Contents.

Section
125.1449d

Sale of Premises at Public Sale; Hours; Location; Appointed Person; Highest Bidder.

Section
125.1449e

Adjournment of Sale; Request; Notice; Oral Announcement Unnecessary.

Section
125.1449f

Sale of Distinct Farms, Tracts, or Lots Separately or Together.

Section
125.1449g

Purchase of Premises by Authority or Its Successor or Assign Permitted.

Section
125.1449h

Deed; Execution, Acknowledgment, and Delivery by Officer or Person Making Sale; Separate Deeds Where Lands Situated in Several Counties; Endorsement, Recordation, and Indexation of Deed by Register of Deeds; Redemption.

Section
125.1449i

Deed; Right, Title, and Interest Vested in Grantee; Record of Deed Valid Without Re-Recordation; Effect of Sale on Valid Subsisting Lien Created Before Mortgage Lien Took Effect.

Section
125.1449j

Redemption of Premises; Payment of Taxes or Insurance Premiums; Redemption Period; Fees or Charges.

Section
125.1449k

Abandonment of Premises; Presumption.

Section
125.1449l

Payment of Entire Sum Bid at Sale, Interest, and Fee, or Delivery of Certificate of Payment to Register; Destruction of Deed; Memoranda.

Section
125.1449m

Refusal to Make and Acknowledge Certificate of Payment; Liability; Damages; Civil Action.

Section
125.1449n

Disposition of Surplus Money Remaining After Sale of Real Estate.

Section
125.1449o

Perpetuating Evidence of Sale; Affidavit; Endorsement Upon or Annexation to Instrument; References.

Section
125.1449p

Taking and Certifying Affidavits.

Section
125.1449q

Recording Affidavits; Presumptive Evidence of Facts.

Section
125.1449r

Note Recording Evidence of Sale to Be Made in Margin of Mortgage Record.

Section
125.1449s

Notice of Payment to Purchaser, Agent, or Attorney.

Section
125.1449t

Right to Enter Mortgaged Premises to Post or Serve Notices.

Section
125.1449u

Action to Recover Deficiency Judgment Against Mortgagor; Defense; Applicability of Section.

Section
125.1449v

Foreclosure Against Residential Property Not Exceeding 4 Units and Not More Than 3 Acres; Applicability of Section.