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