(1) Except as provided in Subsection (2), before a person initiates foreclosure proceedings on a reverse mortgage, the person shall:
- (a) send the borrower, by certified mail, return receipt requested, written notice that states the grounds for default and foreclosure; and
- (b) provide the borrower at least 30 days after the day on which the person sends the notice described in Subsection (1)(a) to cure the borrower's default.
- (2) This section does not apply if the borrower is deceased.
Amended by Chapter 385, 2023 General Session