Staff Analysis of the Legislation
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HB 27 amends §44-14-7, relating to foreclosures, by
providing an opportunity for debtors to prevent foreclosure at any time up to
five days before the sale of their property serving as the security instrument
for debt. Debtors would have to pay all fees and expenses specified as
collectable and may also be required to pay reinstatement sums and expenses in
one or more forms.
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