IL HB3751

Amends the Illinois Worker Adjustment and Retraining Notification Act by adding Section 42 regarding suspension of mortgage interest payments.

Allows employees who fail to receive required notice of mass layoff, relocation, or employment loss to request a 180-day suspension of mortgage interest payments on their primary residence.

Employees must submit a written request to their mortgagee within 180 days of the employment loss order, including documentation of the layoff and an affidavit confirming their employee status and mortgage ownership.

Deferred interest accrued during the 180-day suspension period must be repaid in equal installments over the remaining term of the mortgage loan.

Suspension applies only to interest payments; principal, escrow, and other loan fees remain due as required by the mortgage agreement.