2007-2008 Regular Session - SB 527
Foreclosure Rescue Fraud Prevention Act; enact; mortgages, conveyances to secure debt, liens
First Reader Summary
A BILL to be entitled an Act to amend Chapter 14 of Title 44 of the Official Code of Georgia Annotated, relating to mortgages, conveyances to secure debt, and liens, so as to enact the "Foreclosure Rescue Fraud Prevention Act"; to provide for legislative findings and intent; to provide for definitions; to provide that deeds or other conveyances of interests in property purporting to be an absolute conveyance of title but was made a security for the performance of an obligation shall be deemed to be an equitable mortgage; to provide for reformation of equitable mortgages; to provide for obligations and payments under equitable mortgages; to provide for stays of eviction actions under certain circumstances; to provide for related matters; to repeal conflicting laws; and for other purposes.
Feb/28/2008 - Senate Read and Referred
Feb/27/2008 - Senate Hopper