jbd441 - This is not a new law.

MCLA 600.3240

[[8) Subject to subsections [[9) to [[11), for a mortgage executed on or after January 1, 1965, on residential property not exceeding 4 units and not more than 3 acres in size, if the amount claimed to be due on the mortgage at the date of the notice of foreclosure is more than 66-2/3% of the original indebtedness secured by the mortgage, the redemption period is 6 months. [[emphasis added)