CT HB05270

Extends the foreclosure mediation program deadline from July 1, 2010 to July 1, 2012 for residential mortgage foreclosures with return dates between July 1, 2008 and June 30, 2012.

Requires mortgagees to provide mortgagors with notice of the foreclosure mediation program, mediation request forms, and appearance forms when commencing foreclosure actions on residential property.

Establishes mediation periods of up to 60 days after the return date, with the first mediation session required within 15 business days; allows the court to extend or shorten the period for good cause.

Mandates that mortgagors and mortgagees appear in person at mediation sessions with settlement authority, though mortgagee's counsel may appear if available by telephone and authorized to settle.

Requires minimum monetary incentives for tenants vacated through foreclosure: the greater of the security deposit plus interest, two months' rent, or $2,000; clarifies homestead exemption definitions to include co-ops and manufactured homes.