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MN HF3014
Bill
Status
4/23/2012
Primary Sponsor
Joe Mullery
Click for details
AI Summary
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Amends Minnesota Statutes section 580.022, subdivision 2, to modify the preforeclosure notice form required under section 580.021, subdivision 4.
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Requires lenders to provide homeowners facing foreclosure with contact information for the current owner of the mortgage, the current holder of the mortgage, and the current mortgage servicer if applicable.
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Establishes a standardized "Preforeclosure Notice" form that counseling agencies and lenders must complete and return via fax or email, including all required contact details.
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Effective August 1, 2012, and applies to all preforeclosure notices provided on or after that date.
Legislative Description
Homeowners facing foreclosure provided with information about the current owner of the mortagee interest in the property, the current holder of the mortgage, and the third-party servicer of the mortgage loan if any.
Last Action
Introduction and first reading, referred to Commerce and Regulatory Reform
4/23/2012