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2009 SESSION

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HB 2150 Notice of sale; locality in Planning District 8 to adopt ordinance to give notice to admin. officer.

Introduced by: Thomas Davis Rust | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED HOUSE:

Notice of certain sales under deed of trust.  Permits localities  in Planning District 8 to adopt an ordinance to require that a notice be given to the chief administrative officer when residential property becomes subject to a sale under a deed of trust.

SUMMARY AS INTRODUCED:

Registration of vacant residential properties. Permits localities to adopt an ordinance to require mortgage lenders or mortgage loan service providers to provide the locality with the name and contact information of a person living or working in such locality, or within 25 miles of that locality, for each vacant residential property where the mortgage loan is in default for three months. The locality may require mortgage lenders or mortgage loan service providers to pay a $25 processing fee for each property registered, and failure to register properties in violation of the ordinance could be subject to a civil penalty not to exceed $500. If the mortgage lender or mortgage loan service provider has registered the loan on the property with a national mortgage loan electronic registration system to which the locality may have access, then the mortgage lender or mortgage loan service provider shall not have to also register that property with the locality and shall be deemed to have complied with any such ordinance.