Consumer Protection – HB1920/SB1299
SPONSORS: Rep. Jimmy Matlock / Sen. Jack Johnson
SUMMARY: Reduces number of public notices of foreclosure from 3 to 1. The bill was amended to reduce the number of public notices from 3 to 2, instead of 3 to 1. Then amended again to keep the notice in 3 times but shorten the description i.e. does not require inclusion of a metes and bounds description if there is no street address.
ACTION: Senate passed with amendment 4, as amended on 5/20. House concurred in Senate amendment 4 on 5/21. Sent to the speakers for signatures on 5/21.
For more info, check out Chas Sisk’s excellent article in the Tennessean, “Banks want to reduce public notice.” Also read “TN Legislature Hates Homeowners?” and “Action Alert: Don’t make foreclosure easier in Tennesee.