Legislative Session number- 85

Bill Name: HF3475

HF 3475

SECOND ENGROSSMENT

Foreclosure provisions modified.

Section 1: To get
tax statements language is modified.

Section 2: Limitations language is
modified.

Section 3: Service on judgment debtor language is modified.

Section
4: Certificate of sale of realty language is modified.

Section 5: Redemption of
realty language is modified.

Section 6: Requisites for foreclosure language is
modified.

Section 7: Foreclosure prevention counseling language is
provided.
Subdivision 1. Applicability.
Subdivision 2. Requirement to provide
notice of opportunity for counseling.
Subdivision 3. Notification to authorized
counseling agency.
Subdivision 4. Notice of provision of counseling; request for
contact information.

Section 8: Forms - Counseling form language is
provided.

Section 9: Notice of sale; service on occupant language is
provided.

Section 10: Form and delivery of notice language is
modified.

Section 11: Content of notice language is modified.

Section 12:
Foreclosure advice notice to tenant language is provided.
Subdivision 1.
Applicability.
Subdivision 2. Form of delivery of notice.
Subdivision 3.
Content of notice.
Subdivision 4. Affidavit.
Subdivision 5. Validation of
foreclosure sales; remedy for violation.

Section 13: Sale, how and by whom made
language is modified.

Section 14: Postponement language is modified.

Section
15: Certificate of sale; record; effect language is modified.

Section 16:
Six-month redemption period language is modified.

Section 17: Redemption by
creditor language is modified.

Section 18: Redemption, how made language is
modified.

Section 19: Action to set aside mortgage; foreclosure; redemption
language is modified.

Section 20: Mortgages, when reinstated language is
modified.
Subdivision 1. Reinstatement.
Subdivision 2. Request by
sheriff.

Section 21: Redemption by Mortgagor, Creditor language is modified.


Section 22: Purchaser may pay taxes and other expenses due language is
modified.
Subdivision 1. Allowable costs collectable upon
redemption.
Subdivision 2. Affidavit of allowable costs.
Subdivision 3. Penalty
for excessive costs.

Section 23: Limited right of entry language is provided.

Subdivision 1. Right of entry.
Subdivision 2. Authorized actions.
Subdivision
3. Costs.

Section 24: Effective date; expiration are provided.

SNA 3/13/08