TX SB2833

Requires lenders to notify borrowers at the time of signing the mortgage that they may designate a third party (family member, HUD-approved housing counselor, or attorney) to receive copies of any default or sale notices

Mandates mortgage servicers send written notice by certified mail at least 30 days before serving a notice of default, informing debtors of their right to designate a third party to receive foreclosure notices

Allows homeowners to postpone a foreclosure sale by at least 45 days by submitting a written listing agreement with a licensed real estate broker at least 5 business days before the scheduled sale date

Provides an additional 45-day postponement if the debtor submits a signed purchase agreement with a price equal to or greater than the unpaid loan balance, though each type of postponement may only be granted once

Establishes a minimum bid requirement of 67% of fair market value at foreclosure sales; if no qualifying bid is received, the sale must be postponed at least 7 days before a second sale can accept lower bids