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Financial Services Law Insights and Observations

Texas Adds Military Disclosure Requirement to Foreclosure Notices

State Issues

On June 17, Texas Governor Rick Perry signed into law S.B. 101, which requires certain foreclosure notices to now include a statement directed to active duty military servicemembers. The new requirement, which takes effect on September 1, 2011, requires both the notice of default and the notice of sale to include the name and address of the sender and conspicuous language advising the recipient that, if they or their spouse are serving on active military duty, they should immediately send written notice of such active duty military service to the sender of the notice at the addressed provided.