Tennessee Legislature Proposes Change to Foreclosure Notices

The motivation behind the proposed legislation in Nashville is clear and falls into one of three categories:

1. A genuine attempt to tackle a specific issue.

2. A maneuver to win favor with or reward support from lobbyists, wealthy donors, or powerful political figures.

3. A tactic to gain media attention or boost a legislator’s public profile.

It is evident that the legislation aimed at changing foreclosure notice procedures in Tennessee does not arise from a sincere effort to address a pressing problem.

Currently, foreclosure notices must be published three times in a reputable newspaper. The proposed change aims to reduce this requirement to just one publication, compromising transparency for property owners, consumers, and the general public. This alteration will drastically limit the number of people who see these crucial notices.

Moreover, the second component of the proposed legislation mandates that a posting be made online by a third-party internet posting company. This ignores the fact that the Tennessee Press Association already provides a reliable third-party internet site that newspapers use to publish such notices online, as required by law, and at no additional cost. Newspapers also post these notices on their individual websites.

This proposed legislation seeks to replace a clear and effective law with something vague and untested. Several critical questions remain unanswered:

- Who will the third party be?

- Who will select this third party?

- Is the third-party site already operational, or will it be created by the banks and lawyers lobbying for this change?

- How will the public be informed about where to find the third-party site?

- What will the rates be, and how much will the third-party site charge? If the site is controlled by banks or lawyers, isn’t this merely a scheme to funnel money back to the lobbyists supporting this bill?

These issues demand clear answers.

Let’s be transparent: newspapers charge a fee for each foreclosure notice published. This raises significant questions about motivation: Is it acceptable to redirect funds that should support the press—an institution vital to maintaining our Constitutionally protected Freedom of the Press—back into the pockets of bankers, lawyers, or the government? It certainly raises eyebrows about the intent behind this legislation.

The mission of community newspapers is crucial: they keep you informed about the workings of your government and community. They serve as a vital light illuminating important issues.

Reducing notice requirements for something as significant as foreclosures undermines the very principles on which our federal, state, and local governments are built.

If you stand for greater transparency in Tennessee, it is imperative that you contact your Tennessee State Representative or State Senator. Demand that foreclosure notices and all public announcements remain in your local newspapers. Your voice matters, and it’s time to make it heard!