2007 House Bill 5340

Revise foreclosure judgment provisions

Introduced in the House

Oct. 23, 2007

Introduced by Rep. Coleman Young (D-4)

To establish that a foreclosure judgment on a home loan that occurs within 18 months of the first delinquent payment may only order repayment of the amount of missed payments and interest, and not any additional accelerated indebtedness triggered by the delinquency.

Referred to the Committee on Banking and Financial Services