Loading chat...

CT HB05478

Bill

Official Source

Status

Introduced

1/25/2021

Primary Sponsor

Edwin Vargas

Click for details

Origin

House of Representatives

2021 General Assembly

AI Summary

  • Prohibits mortgagees from placing liens against or foreclosing on properties for mortgage loan defaults caused by missed installment payments between March 1, 2020, and September 30, 2021

  • Requires mortgagees to add any missed installment payment amounts to the mortgage loan balance rather than pursuing foreclosure

  • Mandates extension of the loan term by a period equal to the time covered by the missed installment payments

  • Amends Title 36a of the Connecticut General Statutes governing banking and financial institutions

Legislative Description

An Act Prohibiting Foreclosures For Certain Mortgage Loan Defaults.

Last Action

Referred to Joint Committee on Banking

1/25/2021

Committee Referrals

Banking1/25/2021

Full Bill Text

No bill text available