GRAND RAPIDS, Mich. — Under a new Save the Dream law signed last week by Governor Jennifer Granholm, Michigan credit unions can now provide specialized mortgage refinance products to help ease the state's foreclosure crisis.
Enabling authority was given to approved banks and CUs to offer a program advanced by the Michigan State Housing and Development Authority, said the Michigan Credit Union League.
David Adams, presi-dent/CEO, said the new refinancing products are another positive step in credit unions' continuing efforts to work with federal and state programs that can help Michigan homeowners.
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