The brand new account record need safety a time period of at the very least 24 days (and/or lifetime of the loan in the event that smaller)
The fresh legislation will make it unlawful to have a lending company in order to initiate any property foreclosure action in the place of giving created notice into borrower no less than forty five months ahead of time

One to find need certainly to is an enthusiastic itemization of all of the delinquent number and you can any costs that have to be paid-in purchase to offer the borrowed funds most recent, an announcement that the borrower have available options except that property foreclosure and this the newest debtor will get mention those people choices to your home loan company otherwise an excellent HUD-accepted therapist, this new contact details to have a representative of the lending company just who is actually signed up to do business with the borrower to quit foreclosure, the latest email address for just one or higher HUD-accepted guidance providers when you look at the Mississippi whom can let the fresh new debtor and avoid foreclosure, as well as the contact information towards the Consumer Problem Section of the Mississippi Institution out of Banking and you can Consumer Financing.
This can be another such as for example where in actuality the brand new state law parallels RESPA and does not appear to impose one the brand new or different requirements. (більше…)