Legislative Session number- 86

Relating to real property

ARTICLE 1 - HOMESTEAD-LENDER MEDIATION

Requiring
foreclosure prevention to include mediation referral and attorney general
notification; requiring counseling agencies to be funded for foreclosure
prevention services by the Minnesota housing finance agency or the United States
department of housing and urban development; requiring that lenders must not
commence foreclosure action until after initial published notice is given;
requiring counseling agencies to give mortgagors mediation request form upon
failure to negotiate a resolution; specifying form language; changing the
redemption time period; defining terms; providing for applicability, mandatory
mediation proceedings; requiring good faith; specifying creditor mediation
duties, data practices, compensation, a mediation request affidavit form,
district court enforcement, law inconsistency and expiration

ARTICLE 2 -
MISCELLANEOUS

Specifying certain miscellaneous provisions

ARTICLE 3 -
FEES AND APPROPRIATIONS

Specifying recording and recording fees and
depository requirements; making conforming amendments; establishing the
homestead-lender mediation act account, specifying uses; appropriating
money
(me)