HB 618 Summary

• Requires levying officers to conduct foreclosed real property sales within 22 business days after a foreclosure judgment is issued, or within 22 business days after a court order determining exempt property if a hearing is requested.

• Creates a new definition of "mortgagee" (financial institutions authorized to issue mortgages) and establishes expedited sale procedures specifically for mortgage foreclosures by mortgagees.

• Requires property appraisals to be completed prior to the sale deadline and mandates that judgment creditors issue required notices in a manner allowing sales to occur within the 22-business-day timeframe.

• Allows levying officers to demand publication fees from the mortgagee or their agents without withholding publication if fees are unpaid, modifying existing fee payment requirements.

• Clarifies that judgment debtors may request hearings within five business days to claim property exemptions, with hearings scheduled within 12 days of the request unless an emergency requires earlier scheduling.