SB 880

RELATING TO HOUSING MORTGAGES

By Senator(s) TAM

Keywords: BANKS AND BANKING, CREDIT UNIONS, FINANCIAL INSTITUTIONS, FINANCIAL SERVICES LOAN COMPANIES, SAVINGS AND LOAN ASSOCIATIONS

Report Title: Mortgage Foreclosure Actions

Description: Provides that if a mortgagee is not delinquent on a first mortgage, then no other mortgagor shall foreclose, but instead shall restructure the delinquent loan by extending the repayment period and reducing the interest rate.

 1-22-99        S Introduced and passed First Reading                      
 1-25-99        S Referred to CPN                                          
 1-19-00        S Carried over to 2000 Regular Session.