Introduced
by
To establish that if a mortgage borrower “cures” or makes up the delinquent payments on a loan before a final judgment is issued by a court, the lender must take steps to cancel the foreclosure proceedings, the borrower is reinstated to the same position as before the delinquency, and any payment acceleration (“calling the loan”) is nullified. The bill is part of a subprime home loan regulation package comprised of House Bills 5287 to 5310 (HB 5295 in particular).
Referred to the Committee on Banking and Financial Services
