SENATE BILL 535

File Code: Real Property Crossfiled with: HOUSE BILL 1398

Sponsored By:

Senator Muse

Entitled:

Foreclosure - Subprime Mortgages - Moratorium

Synopsis:

Prohibiting a creditor from maintaining suit in an action to foreclose a mortgage entered into by a homeowner unless the creditor shows to the satisfaction of the court that the mortgage is not a deceptive subprime mortgage; providing that a creditor may be liable for specified damages if the creditor fails to make the showing; etc.

History by Legislative and Calendar Date

Legislative date is used to record history occuring in the Chambers otherwise Calendar date is used.

Senate Action

2/1

First Reading Judicial Proceedings

2/6

Hearing 2/27 at 1:00 p.m.

House Action

No Action

Bill indexed under the following Subjects:

Civil Actions -see also- Small Claims

Consumer Protection -see also- Unfair Trade Practices

Financial Institutions -see also- Banks; Credit Unions; etc.

Foreclosure

Liability -see also- Good Samaritan

Mortgages

Sunset

Documents:

Bill Text (Displayed in PDF Format): First Reading, Third Reading, Enrolled

Fiscal and Policy Note (Displayed in PDF Format): Available

Amendments: None offered