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CT SB00059
Bill
Status
1/12/2021
Primary Sponsor
Saud Anwar
Click for details
AI Summary
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Amends Connecticut General Statutes Chapter 665 to require residential mortgage loans issued by Connecticut banks or credit unions on or after October 1, 2021, to include mortgage forbearance provisions.
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Authorizes forbearance periods not exceeding 120 days for mortgagors whose properties require repairs due to concrete foundation deterioration caused by pyrrhotite.
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Mortgagors must provide documentation demonstrating that the real property securing the mortgage requires repairs because it contains pyrrhotite-damaged concrete foundation.
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Referred to the Committee on Banking.
Legislative Description
An Act Concerning Mortgage Forbearance For Owners Of Homes With Crumbling Foundations.
Last Action
Referred to Joint Committee on Banking
1/12/2021