Introduced
by
To clarify the right of a mortgage foreclosure auction property buyer to monitor the property during the post-auction redemption period, and specify physical evidence that would suggest abandonment and therefore trigger a shorter redemption period during which the delinquent borrower is entitled to redeem the property.
Referred to the Committee on Banking and Financial Institutions
Reported without amendment
With the recommendation that the substitute (S-1) be adopted and that the bill then pass.
Substitute offered
To adopt a version of the bill that does not reduce foreclosure redemption periods, but instead just emphasizes the right of a foreclosure auction buyer to monitor the property during the redemption period, and specifies physical evidence that would suggest abandonment and therefore trigger a shorter redemption period.
The substitute passed by voice vote
Amendment offered
by
To remove the "tie-bar" that requires some related bills to go into law before this one can.
The amendment passed by voice vote
Passed in the Senate 36 to 1 (details)
Referred to the Committee on Financial Liability Reform
Reported without amendment
With the recommendation that the substitute (H-1) be adopted and that the bill then pass.
Substitute offered
The substitute passed by voice vote
Amendment offered
by
To revise the provisions allowing the purchaser of the property to inspect it during the redemption period, in ways that raise the threshold of "damage" that would allow the buyer to begin summary proceedings for possession.
The amendment failed by voice vote
Amendment offered
by
To allow the foreclosed owner to forestall the tax auction buyer from beginning summary proceedings for possession because of damage to the property, by repairing the damage.
The amendment passed by voice vote
Amendment offered
by
To establish that if passed the bill will go into effect on Jan. 10, 2014.
The amendment passed by voice vote
Passed in the House 59 to 50 (details)
To clarify the right of a mortgage foreclosure auction property buyer to monitor the property during the post-auction redemption period, and specify physical evidence that would suggest abandonment and therefore trigger a shorter redemption period during which the delinquent borrower is entitled to redeem the property.
Passed in the Senate 28 to 10 (details)
