Mortgage lenders or servicers; notice and additional time before foreclosure on high-risk loans. (SB797)
Introduced By
Sen.
Phil Puckett (D-Tazewell)
Phil Puckett
(D-Tazewell)
Served: 1998–
Progress
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Introduced |
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Passed Committee |
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Passed House |
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Passed Senate |
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Signed by Governor |
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Became Law |
Description
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. View Full Text »
Status
03/24/2008: Passed the Senate
View Bill's History
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.
