Sec. 4. As used in this chapter, "foreclosure prevention agreement" means a written agreement that: (1) is executed by both the creditor and the debtor; and (2) offers the debtor an individualized plan that may include: (A) a temporary forbearance with respect to the mortgage; (B) a reduction of any arrearage owed by the debtor; (C) a reduction of the interest rate that applies to the mortgage; (D) a repayment plan; (E) a deed in lieu of foreclosure; (F) reinstatement of the mortgage upon the debtor's payment of any arrearage; (G) a sale of the property; or (H) any loss mitigation arrangement or debtor relief plan established by federal law, rule, regulation, or guideline.
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