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2012 SESSION

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HB 822 Mortgage modification; application, limitations on foreclosure.

Introduced by: Robert G. Marshall | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Mortgage modification; application; limitations on foreclosure.  Provides that if a borrower has submitted an application to modify the terms of a loan securing a debt on any residential real property that serves as the primary residence of the borrower, a mortgage lender or mortgage servicer may not initiate foreclosure on such property until (i) it has denied the application or (ii) if the modification was granted, the borrower has defaulted under the terms of the modification. A mortgage lender or mortgage servicer shall also notify in writing the borrower of its denial of an application for modification and its reasons therefor within 30 days after receipt.

FULL TEXT

• 01/11/12  House: Prefiled and ordered printed; offered 01/11/12 12100426D  pdf

HISTORY

• 01/11/12  House: Prefiled and ordered printed; offered 01/11/12 12100426D
• 01/11/12  House: Referred to Committee for Courts of Justice
• 01/17/12  House: Assigned Courts sub: #2 Civil
• 02/01/12  House: Subcommittee recommends laying on the table by voice vote
• 02/14/12  House: Left in Courts of Justice