In a world where bad news seems to be the continuing norm, here’s some really good news for you: just yesterday, the State House voted to pass House Bill 4454, which would help protect Michigan homeowners facing foreclosure by issuing a 90-day moratorium period, in which the homeowners can meet with bankers and work out terms for making house payments, based on the individuals income level and financial needs.

As the state with one of the highest foreclosure rates in the nation, this is good news indeed.

Let’s face it, folks – there’s really no benefit to home foreclosure. Everybody loses when somebody loses their home. Foreclosed homes drive down the property values of entire communities, banks get ruined, and abandoned houses fall into dangerous disrepair; a phenomenon that has lead to the decline of whole Detroit neighborhoods. In the past year, the average price of a home in Detroit – by all accounts a major U.S. city – has fallen to a surreal $18,000, due to the sweeping trend of home foreclosure dragging down city property values.

Something has to be done before things grow even worse, and thankfully, the State House has taken the first step forward towards protecting Michigan families from being thrown out on the street.

But now, let’s hope that the Senate has the good sense to act, too. The legislation will be passed on to Senate Majority Leader Mike Bishop and company, and now it’s their opportunity to stand up for hardworking Michigan families by protecting them from the nightmare of home foreclosure. If you want to tell the Senate to take action, go to http://progressmichigan.org/stopforeclosure and send a letter to your state senator, asking them to support HB 4454 today.

Remember, the loss of a home is a loss for all of us. Our economy will only continue to stagnate and suffer if we turn our heads and refuse to do anything to stop this growing crisis. It’s up to our leaders in Lansing to take the bull by the horns and cast a shield over Michigan residents who face the horror of losing their home. Together, with the help of our legislators, we can all pull through for a brighter tomorrow.