Introduced
by
To extend for another two years the July, 2011 sunset on a 2009 law that forces mortgage lenders to attempt to negotiate revisions in the terms of loans held by delinquent borrowers, before they can proceed to a “foreclosure by advertisement” (instead of the more costly judicial foreclosure process).
Referred to the Committee on Banking and Financial Institutions
Reported without amendment
With the recommendation that the substitute (S-2) be adopted and that the bill then pass.
Substitute offered
To replace the previous version of the bill with one that only extends the sunset for six months.
The substitute passed by voice vote
Passed in the Senate 38 to 0 (details)
To extend for another six months the July, 2011 sunset on a 2009 law that forces mortgage lenders to attempt to negotiate revisions in the terms of loans held by delinquent borrowers, before they can proceed to a “foreclosure by advertisement” (instead of the more costly judicial foreclosure process).
Referred to the Committee on Banking and Financial Services
Reported without amendment
Without amendment and with the recommendation that the bill pass.
Passed in the House 108 to 0 (details)
To extend for another six months the July, 2011 sunset on a 2009 law that forces mortgage lenders to attempt to negotiate revisions in the terms of loans held by delinquent borrowers, before they can proceed to a “foreclosure by advertisement” (instead of the more costly judicial foreclosure process).
