General Assembly Proposed Bill No. 89
January Session, 2015 LCO No. 854
*00854*
Referred to Committee on BANKING
Introduced by:
SEN. MARTIN, 31st Dist.
General Assembly
Proposed Bill No. 89
January Session, 2015
LCO No. 854
*00854*
Referred to Committee on BANKING
Introduced by:
SEN. MARTIN, 31st Dist.
AN ACT REQUIRING THE BANKING COMMISSIONER TO CONDUCT A STUDY ON STREAMLINING THE PROCESS FOR TRANSFERRING PROPERTIES WITH UNDERWATER, DELINQUENT OR FORECLOSED MORTGAGES.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That the Banking Commissioner be required to conduct a study on streamlining the process for the transfer of properties with underwater, delinquent or foreclosed mortgages.
Statement of Purpose:
To require the Banking Commissioner to conduct a study on streamlining the process for the transfer of certain properties with underwater, delinquent or foreclosed mortgages to reduce the excess housing stock.