Mortgage foreclosure.

Authors: Representative Mike Speedy


Provides that, at any time after a judgment and decree of sale is entered in an action to foreclose a mortgage on an interest in real property, a purchaser or an omitted lienholder may bring a civil action to: (1) determine the extent of the omitted lienholder's interest; (2) determine the amount of the proceeds from the judicial sale to which the omitted lienholder may be entitled; (3) determine the liability and the extent of liability due to negligent misrepresentation, professional malpractice, or negligence on the part of a participant in the foreclosure action who, in the course of the participant's business, profession, or employment, supplied false information for the guidance of the parties to the transaction or failed to exercise reasonable care or competence in obtaining or communicating the information; and (4) terminate the interest of an omitted lienholder in the property subject to the sale.