The Michigan Mortgage Modification law, MCL 600.3205a to 600.3205d, which was set to sunset on December 31, 2012 was renewed for six more months by the Michigan legislature. The Mortgage Modification law provides a 90-day time frame in which delinquent mortgage borrowers can work with their lender to modify the loan allowing the borrower to avoid foreclosure. To support the law, the Consumer Finance Protection Bureau had issued proposed rules relating to delinquent borrower intervention and servicing in 2012 with a final rule expected on the matter January 21, 2013. The proposed rule has a time frame similar to current Michigan law. Many Michigan community banks preferred an extension of the state law rather than allowing it to expire, and transitioning into the new CFPB rules. The extension of the law to June 30, 2013, indicates that there will be further review in the near future and the legislature is taking a wait and see approach as to the Michigan market.