Connecticut House Bill HB06223

Connecticut 2011 Regular Session

• Introduced: 1/27/11
• Refer: 1/27/11

Caption

An Act Requiring Proof Of Ownership Of A Mortgage Note At First Foreclosure Mediation Session.

Impact

The enactment of HB 06223 would particularly affect the dynamics of foreclosure mediation in Connecticut. By mandating proof of ownership, it is expected to prevent instances where unauthorized parties attempt to mediate or foreclose on properties. This change would theoretically empower homeowners, giving them a stronger position in mediation sessions by ensuring that they are dealing only with the rightful mortgagee. This could also reduce the number of fraudulent or improper foreclosures, thereby bringing a measure of stability to the housing market.

Summary

House Bill 06223 is designed to amend Connecticut General Statutes to improve the foreclosure mediation process. The bill requires that mortgagees participating in the foreclosure mediation program must present proof of ownership of the underlying mortgage note during the initial mediation session. This legislative change aims to enhance the transparency and accountability within the foreclosure proceedings, ensuring that only legitimate holders of the mortgage notes can engage in mediation. Such requirements are intended to reinforce the rights of homeowners facing foreclosure and to streamline the mediation process itself.

Contention

Some points of contention surrounding this bill may revolve around how it could introduce additional burdens on mortgagees, potentially causing delays in the mediation process. Opponents may argue that requiring strict proof of ownership at the onset could prolong resolution times for legitimate foreclosure cases, impacting the timely recovery of properties. Nevertheless, supporters argue that the intent behind the bill is to protect homeowners and ensure that the rights of those facing foreclosure are firmly upheld, aligning with broader housing rights advocates' goals.