Hello- Our applicant is a land contract holder. They would like to take a lien out on a dwelling in which currently holds a land contract as 1st lien. I do not know all of the details of the loan yet, but what are Michigan's requirements and/OR safe practice that lenders review/consider when underwriting the loan? Specifically, it is being stated that the lender should not (meaning us) provide a loan to the Vendor that is amortized longer than the land contract (that makes sense to me)...but of course the LO, is curious if that is law or policy? Any thoughts/feedback?