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Senate Bill 0132


Senate Bill 0132

ARCHIVE (2010)

Latest Information

 

DIGEST OF INTRODUCED BILL


Mortgage rescue fraud. Amends the law concerning the disclosures that a credit services organization must provide to a buyer to reflect changes in the federal Fair Credit Reporting Act concerning the circumstances under which a consumer is entitled to a consumer report without charge from a consumer reporting agency. Moves the statute concerning mortgage rescue fraud from the Indiana Code title concerning trade regulation to the title concerning property. Makes conforming changes to cross-references. Combines two separate Indiana Code provisions concerning the presuit notice required in residential foreclosure proceedings into one section, and specifies that the notice shall be sent by certified mail. Specifies that the statute concerning mortgage rescue fraud applies only to a foreclosure proceeding concerning residential real property that is located in Indiana and to which a homeowner holds record title at the time the proceeding is initiated. Removes an incorrect cross-reference in the statute concerning real estate brokers and salespersons. Repeals the existing statute concerning mortgage rescue fraud.
    Current Status:
     In Committee - first House
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