House votes to reduce public foreclosure notices

Friday, May 6, 2011, Vol. 35, No. 18

NASHVILLE (AP) — The House has voted to reduce the length and frequency of foreclosure notices published in Tennessee newspapers.

The chamber voted 72-19 on Thursday to pass the bill sponsored by Republican Rep. Jimmy Matlock of Lenoir City.

Matlock said the measure would reduce the amount of technical information required in the notices, trimming the average newspaper notice by 25 percent. Notices would also have to run twice instead of the current requirement of three times.

Matlock said the move would result in a savings for homeowners, though some lawmakers questioned the cost to newspapers that rely on revenue from the notices.

The Senate Judiciary Committee earlier this week advanced the companion bill to the floor on a 5-4 vote.