Real property A mortgage loan, used as the but excluding borrower’s At the time a MICH. COMP. LAWS MI HUD-Approved purchase and Initial Disclosure 7276 principal dwelling person applies for a ANN. § (West No No Counseling Agencies reverse mortgages and is designed mortgage loan 2012) and open-end credit for occupancy by plans 1-to-4 families Real property designed for A mortgage loan or occupancy by After a loan is a home Statement of Credit families, denied or the terms MICH. COMP. LAWS 15858 improvement loan, Adverse Action Denial, Termination, or including single are varied, but not ANN. § (West No No (Federal) but excluding Change unit condos or accepted by the 2012) construction coops, and applicant. financing residential dwellings MICH. COMP. LAWS Marital States Disclosed On 331, 384, Closing A mortgage Real estate At recording ANN. § (West No No on MI Mortgage and 489 2012) MICH. COMP. LAWS MI Principal Residence A principal Closing 995 Not specified Not specified ANN. § (West Yes No Exemption (PRE) Affidavit residence 2012) Not specified, but practically a MI Request to Within 45 days of MICH. COMP. LAWS purchase or a Closing Rescind/Withdraw 996 Property the transfer of ANN. § (West No No renewal in which Homestead Exemption ownership 2012) the beneficiaries of the loan change
Initial Disclosure MI HUD-Approved Counseling Agencies 7276 A mortgage loan, but excluding purchase and reverse mortgages and open-end credit plans Real property used as the borrower’s principal dwelling and is designed for occupancy by 1-to-4 families At the time a person applies for a mortgage loan MICH. COMP. LAWS ANN. § (West 2012) No No Adverse Action Statement of Credit Denial, Termination, or Change 15858 (Federal) A mortgage loan or a home improvement loan, but excluding construction financing Real property designed for occupancy by families, including single unit condos or coops, and residential dwellings After a loan is denied or the terms are varied, but not accepted by the applicant. MICH. COMP. LAWS ANN. § (West 2012) No No Closing Marital States Disclosed on MI Mortgage On 331, 384, and 489 A mortgage Real estate At recording MICH. COMP. LAWS ANN. § (West 2012) No No Closing MI Principal Residence Exemption (PRE) Affidavit 995 Not specified A principal residence Not specified MICH. COMP. LAWS ANN. § (West 2012) Yes No Closing MI Request to Rescind/Withdraw Homestead Exemption 996 Not specified, but practically a purchase or a renewal in which the beneficiaries of the loan change Property Within 45 days of the transfer of ownership MICH. COMP. LAWS ANN. § (West 2012) No No