Real Property - Residential Foreclosures - Commencement Restrictions

Summary

The bill bars a lender from filing a foreclosure action until the later of 90 days after a default or 45 days after a required notice of intent to foreclose is sent. It adds extensive documentation, a $450 filing fee, and a ten‑year deadline for commencing a foreclosure, while allowing limited exceptions for fraud, never‑paid loans, destroyed or abandoned homes, and post‑bankruptcy defaults. The rules apply to mortgages and deeds of trust on residential property, defined as up to four single‑family units.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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