§ 203.608. Reinstatement.
92 words·~1 min read·
/us/cfr/t24/s§ 203.608·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The mortgagee shall permit reinstatement of a mortgage, even after the institution of foreclosure proceedings, if the mortgagor tenders in a lump sum all amounts required to bring the account current, including foreclosure costs and reasonable attorney's fees and expenses properly associated with the foreclosure action, unless:
(a)The mortgagee has accepted reinstatement after the institution of foreclosure proceedings within two years immediately preceding the commencement of the current foreclosure action,
(b)reinstatement will preclude foreclosure following a subsequent default, or
(c)reinstatement will adversely affect the priority of the mortgage lien.