2017 Senate Bill 635

Cap foreclosed mortgage redemption calculation fee

Introduced in the Senate

Oct. 18, 2017

Introduced by Sen. Vincent Gregory (D-11)

To cap at $100 the amount that the purchaser of a foreclosed mortgage property can charge to calculate how much the delinquent borrower would have to pay to redeem the property within the statutory period of redemption.

Referred to the Committee on Banking and Financial Institutions

Dec. 6, 2017

Reported without amendment

With the recommendation that the substitute (S-1) be adopted and that the bill then pass.

June 12, 2018

Passed in the Senate 34 to 2 (details)

To cap at $200 the amount that the purchaser of a foreclosed mortgage property can charge to calculate how much the delinquent borrower would have to pay to redeem the property within the statutory period of redemption.

Received in the House

June 12, 2018

Referred to the Committee on Financial Services