§667- 79 Notification of opening a dispute resolution case; mortgagee's program fee.

245 words·~1 min read·/hi/chapter-667/667-13

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)If an owner-occupant elects to participate in the mortgage foreclosure dispute resolution program, the department shall open a dispute resolution case. Within twenty days of receipt of the owner-occupant's election form and fee in accordance with section 667-78, the department shall mail written notification of the case opening to the parties and , if applicable, the condominium or other homeowner association of the project where the owner-occupant's property is located, by registered mail, return receipt requested, which shall include:

(1)Notification of the date, time, and location of the dispute resolution session;

(2)An explanation of the dispute resolution process;

(3)Information about the dispute resolution program requirements; and

(4)Consequences and penalties for noncompliance.

The dispute resolution session shall be scheduled for a date no less than forty and no more than seventy days from the date of the notification of case opening, unless mutually agreed to by the parties and the neutral.

(b)Within fourteen days of the date of the mailing of the written notification, the mortgagee shall pay a program fee of $300 to the department.

(c)The written notification of a case opening under this section shall operate as a stay of the foreclosure proceeding in accordance with section 667-83 and may be recorded. [L 2011, c 48 , pt of §1 , §45( 2 ) ; am L 2012, c 182, §§ 43 , 49 ]