Amend CSSB 507 as follows:
(1) In SECTION 1 of the bill, in added Section
209.009, Property Code, (House Committee Report, page 9, line 24),
between the period and "A" insert "(a)".
(2) In SECTION 1 of the bill, in added Section
209.009, Property Code, (House Committee Report, page 10, between
lines 2 and 3),insert the following:
(b) A property owner may cure a default in the payment of
assessments at any time before the foreclosure sale of the
property. If the property owner initiates a payment plan, all
proceedings to foreclose the property are stayed for so long as the
property owner continues to make timely payments under the payment
plan.