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CT HB05164

Bill

Official Source

Status

Introduced

1/11/2019

Primary Sponsor

Tom Delnicki

Click for details

Origin

House of Representatives

2019 General Assembly

AI Summary

  • Amends Chapter 846 of Connecticut General Statutes to prohibit home equity loan lenders from seeking deficiency judgments against borrowers when the property's foundation is crumbling due to pyrrhotite.
  • Applies specifically to properties with foundations damaged by pyrrhotite, a mineral that causes concrete deterioration.
  • Protects homeowners from owing the difference between the home's sale price and remaining loan balance when foundations are compromised by this defect.
  • Referred to the Committee on Banking during the January 2019 legislative session.

Legislative Description

An Act Prohibiting The Lender Of A Home Equity Loan From Seeking A Deficiency Judgment Against Certain Borrowers.

Last Action

Public Hearing 02/07

2/1/2019

Committee Referrals

Banking1/11/2019

Full Bill Text

No bill text available