(3) "Mortgage servicer" means the last person to whom a mortgagor has been instructed by the current mortgagee to send payments for the debt secured by a security instrument. A mortgagee may be the mortgage servicer. (2718)
(4) "Mortgagee" means: (2719)
(A) the grantee, beneficiary, owner, or holder of a security instrument; (2720)
(B) a book entry system; or (2721)
(C) if the security interest has been assigned of record, the last person to whom the security interest has been assigned of record. (2722)
(5) "Mortgagor" means the grantor of a security instrument. (2723)
(6) "Security instrument" means a deed of trust, mortgage, or other contract lien on an interest in real property. (2724)
(7) "Substitute trustee" means a person appointed by the current mortgagee or mortgage servicer under the terms of the security instrument to exercise the power of sale. (2725)
(8) "Trustee" means a person or persons authorized to exercise the power of sale under the terms of a security instrument in accordance with Section 51.0074. (2726)
Added by Acts 2003, 78th Leg., ch. 554, Sec. 1, eff. Jan. 1, 2004. (2727)
Amended by: (2728)
Acts 2007, 80th Leg., R.S., Ch. 903 (H.B. 2738), Sec. 1, eff. June 15, 2007. (2729)
Except as provided by Chapter 59, this subtitle does not affect: (2731)
(1) the right to create a lien by special contract or agreement; or (2732)
(2) a lien that is not treated in this subtitle, including a lien arising under common law, in equity, or under another statute of this state. (2733)
Acts 1983, 68th Leg., p. 3525, ch. 576, Sec. 1, eff. Jan. 1, 1984. (2734)
(a) Notwithstanding any agreement to the contrary, a debtor is not in default under a deed of trust or other contract lien on real property used as the debtor's residence for the delinquent payment of ad valorem taxes if: (2736)
(1) the debtor gave notice to the mortgage servicer of the intent to enter into an installment agreement with the taxing unit under Section 33.02, Tax Code, for the payment of the taxes at least 10 days before the date the debtor entered into the agreement; and (2737)
(2) the property is protected from seizure and sale and a suit may not be filed to collect a delinquent tax on the property as provided by Section 33.02(d), Tax Code. (2738)
(b) A mortgage servicer who receives a notice described by Subsection (a)(1) may pay the taxes subject to the installment agreement at any time. (2739)
(c) A mortgage servicer who receives a notice described by Subsection (a)(1) and gives the debtor notice that the mortgage servicer intends to accelerate the note securing the deed of trust or other contract lien as a result of the delinquency of the taxes that are subject to the installment agreement must rescind the notice if the debtor enters into the agreement not later than the 30th day after the date the debtor delivers the notice. (2740)
Added by Acts 2013, 83rd Leg., R.S., Ch. 935 (H.B. 1597), Sec. 4, eff. September 1, 2013. (2741)
(a) Except as provided by Subsection (a-1), a sale of real property under a power of sale conferred by a deed of trust or other contract lien must be a public sale at auction held between 10 a.m. and 4 p.m. of the first Tuesday of a month. Except as provided by Subsection (h), the sale must take place at the county courthouse in the county in which the land is located, or if the property is located in more than one county, the sale may be made at the courthouse in any county in which the property is located. The commissioners court shall designate the area at the courthouse where the sales are to take place and shall record the designation in the real property records of the county. The sale must occur in the designated area. If no area is designated by the commissioners court, the notice of sale must designate the area where the sale covered by that notice is to take place, and the sale must occur in that area. (2743)
(a-1) If the first Tuesday of a month occurs on January 1 or July 4, a public sale under Subsection (a) must be held between 10 a.m. and 4 p.m. on the first Wednesday of the month. (2744)
(b) Except as provided by Subsection (b-1), notice of the sale, which must include a statement of the earliest time at which the sale will begin, must be given at least 21 days before the date of the sale by: (2745)
(1) posting at the courthouse door of each county in which the property is located a written notice designating the county in which the property will be sold; (2746)
(2) filing in the office of the county clerk of each county in which the property is located a copy of the notice posted under Subdivision (1); and (2747)
(3) serving written notice of the sale by certified mail on each debtor who, according to the records of the mortgage servicer of the debt, is obligated to pay the debt. (2748)
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