The Tennessee Legislature recently passed H.B. 1964 requiring lenders to suspend foreclosure proceedings on mortgages entered into by members of a reserve or the Tennessee National Guard under specific circumstances. Under H.B. 1964 , if a member is subsequently called into active duty and stationed outside the U.S. during hostilities, a lender must suspend any foreclosure proceedings until 90 days after the member returns to the state.

The bill also includes a specific requirement for to the borrower to provide written notice to the holder of the indebtedness stating;

• He/She is a member of the reserve or Tennessee National Guard
• He/She has been called to active duty
• A copy of the deployment order should be attached
• He/She shall state the anticipated date of return to the state.

To view the full text of the bill, please click on the following link.

Tennessee H.B. 1964  Restricts Foreclosure of Property