Thursday, July 24, 2008
The General Assembly is not in session.
Tracking Virginia’s General Assembly
since 2007.
SB797: Mortgage lenders or servicers; notice and additional time before foreclosure on high-risk loans.
Chief Patron
Sen.
Phil Puckett (D-38)
Phil Puckett
(D-38)
Served: 1998–
Progress
 |
Introduced |
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Passed Committee |
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Passed House |
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Passed Senate |
 |
Signed by Governor |
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Became Law |
Status
03/24/2008: Passed the Senate
Summary
High-risk mortgage lenders or servicers; 10 days' notice; 30 days' forbearance. Requires high-risk mortgage lenders or servicers to provide written notice of the intention to send a notice to accelerate the repayment of the loan 10 business days prior to sending the notice of acceleration. If an obligor indicates the desire to avoid foreclosure, the high-risk mortgage lender or servicer shall give the obligor 30 calendar days' forbearance.
Video
Votes were cast on this bill on the following dates for which Richmond Sunlight has video: 02/25/2008, 02/26/2008, 02/26/2008, 02/29/2008, 03/06/2008, 03/07/2008 and 03/07/2008.
Poll Results
No Richmond Sunlight visitors voted on this bill while voting was open.
Tags
Bill Text
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