Payment of principal, interest, and costs before final judgment;
dismissal; payment after final judgment; stay
Sec. 11. (a) If:
(1) a complaint is filed for the foreclosure of a mortgage;
(2) any interest or installment of the principal is due, but no
other installments are due; and
(3) the defendant pays the court the principal and interest due,
with costs, at any time before final judgment;
the complaint must be dismissed.
(b) If the defendant pays the court the principal and interest due
after the final judgment, the proceedings on the final judgment must
be stayed. However, the stay may be removed upon a subsequent
default in the payment of any installment of the principal or interest
after the payment is due.
(c) In the final judgment, the court shall direct at what time and
upon what default any subsequent execution shall issue.
As added by P.L.2-2002, SEC.15.
Last modified: May 24, 2006