New Legislation May Delay Mortgages - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

New Legislation May Delay Mortgages

Many Texans could soon be getting relief from mortgage issues and foreclosure.

Texas Attorney General Greg Abbott and other state leaders want to extend the window to cure a default mortgage.

Currently borrowers have less than three weeks to clear up bad loans.

Abbott wants to extend it to 45 days.

He also wants lenders to be required to personally contact the borrower before a foreclosure can be filed.

Abbott says stabilizing the housing market is essential for the state's future.

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