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HB 0027 - Foreclosure; opportunity under certain circumstances for debtor to make all past payments, fees and charges; provide

Tracking Level: Monitor
Sponsor: Billy Mitchell (D)
Last Action: 1/11/2017 - House Second Readers
House Committee: Judiciary
Assigned To:
Fees, Fines and ForfeituresNext Bill

Staff Analysis of the Legislation

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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