HB1811 Summary

• Adds "obligor" to foreclosure definitions and clarifies that foreclosures may be initiated by beneficiaries or mortgagees rather than only trustees

• Prohibits foreclosure initiation if an application for loss mitigation or loan modification by the mortgagor, grantor, or obligor is pending

• Requires foreclosure notices include name, address, and telephone number of the party initiating foreclosure and contact information for government-sponsored and private loss mitigation or loan modification programs available to the borrower

• Establishes 60-day waiting period after recording notice of default and intention to sell before sale can proceed

• Requires identity of debt payment recipient, note holder, and note location be made available at no cost to mortgagor, grantor, and obligor before foreclosure initiation