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A BILL TO BE ENTITLED
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AN ACT
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relating to the notice and time for cure that must be provided to |
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certain debtors before foreclosure of a contract lien. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 51.002(d), Property Code, is amended to |
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read as follows: |
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(d) Notwithstanding any agreement to the contrary, the |
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mortgage servicer of the debt shall serve a debtor in default under |
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a deed of trust or other contract lien on real property used as the |
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debtor's residence with written notice by certified mail stating |
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that the debtor is in default under the deed of trust or other |
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contract lien and giving the debtor at least 60 [20] days to cure |
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the default before notice of sale can be given under Subsection (b). |
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The entire calendar day on which the notice required by this |
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subsection is given, regardless of the time of day at which the |
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notice is given, is included in computing the 60-day [20-day] |
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notice period required by this subsection, and the entire calendar |
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day on which notice of sale is given under Subsection (b) is |
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excluded in computing the 60-day [20-day] notice period. |
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SECTION 2. The change in law made by this Act applies only |
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to a default that occurs on or after the effective date of this Act. |
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A default that occurs before the effective date of this Act is |
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governed by the law in effect immediately before the effective date |
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of this Act, and that law is continued in effect for that purpose. |
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SECTION 3. This Act takes effect September 1, 2013. |