Mortgage modification; application, limitations on foreclosure. (HB822)

Introduced By

Del. Bob Marshall (R-Manassas)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


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. Read the Bill »


Bill Has Failed


01/11/2012Prefiled and ordered printed; offered 01/11/12 12100426D
01/11/2012Referred to Committee for Courts of Justice
01/17/2012Assigned Courts sub: #2 Civil
02/01/2012Subcommittee recommends laying on the table
02/14/2012Left in Courts of Justice


Beverly Thompson writes:

Please, support this bill. Everyone should have a fair chance to have a decent home.