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Amend SB 472 by inserting into the bill the following
appropriately numbered SECTION and renumbering subsequent SECTIONS
of the bill accordingly:
SECTION ____. Subchapter B, Chapter 343, Finance Code, is
amended by adding Section 343.103 to read as follows:
Sec. 343.103. INFORMATION CONCERNING ACTIONS TO PREVENT
FORECLOSURE ON RESIDENTIAL REAL PROPERTY. (a) The finance
commission shall make available to homeowners written information
concerning actions the owner may take to prevent foreclosure. The
information must include actions that may be taken to prevent
foreclosure by an owner who:
(1) is concerned that the owner will be unable to make
a home loan payment when the payment becomes due; or
(2) has missed making a home loan payment that has
become due.
(b) The finance commission shall by rule require that a
person purchasing a home financed by a home loan is required at the
closing on the home to sign an acknowledgement that the person has
received the information described by Subsection (a).
(c) The finance commission shall post on the commission's
Internet website the information described by Subsection (a).