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Search 2008 Bills:

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

Yes Introduced
Yes Passed Committee
Yes Passed House
Yes Passed Senate
Signed by Governor
Became Law

Status

03/24/2008: Passed the Senate

View Entire History

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.

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Poll Results

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Bill Text

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