Greenville Lafayette, LLC v. Elgin State Bank

Plaintiff appeals as of right the trial court’s order dismissing its complaint, which sought an injunction against defendant’s foreclosure by advertisement. Because we conclude that the plain language of MCL 600.3204 bars defendant’s foreclosure action, we reverse.

This case arises out of defendant-mortgagee’s foreclosure by advertisement of plaintiff-mortgagor’s real property in Montcalm County. In early June 2007, plaintiff and defendant entered into a “Business Loan Agreement” for approximately $1.8 million. The same day, the parties entered into a separate mortgage agree*286ment to secure…