2011 House Bill 4536

Extend foreclosure restrictions sunset

Introduced in the House

April 13, 2011

Introduced by Rep. Stacy Erwin Oakes (D-95)

To extend for another two years the July, 2011 sunset on a 2009 law that forces mortgage lenders to attempt to negotiate revisions in the terms of loans held by delinquent borrowers, before they can proceed to a “foreclosure by advertisement” (instead of the more costly judicial foreclosure process).

Referred to the Committee on Banking and Financial Services