| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | ||
| 2 | 2 | ||
| 3 | 3 | LCO No. 41 1 of 1 | |
| 4 | 4 | ||
| 5 | 5 | General Assembly Proposed Bill No. 59 | |
| 6 | 6 | January Session, 2021 | |
| 7 | 7 | LCO No. 41 | |
| 8 | 8 | ||
| 9 | 9 | ||
| 10 | 10 | Referred to Committee on BANKING | |
| 11 | 11 | ||
| 12 | 12 | ||
| 13 | 13 | Introduced by: | |
| 14 | 14 | SEN. ANWAR, 3rd Dist. | |
| 15 | 15 | ||
| 16 | 16 | ||
| 17 | 17 | ||
| 18 | 18 | AN ACT CONCERNING MORTGAGE FORBEARANCE FOR OWNERS | |
| 19 | 19 | OF HOMES WITH CRUMBLING FOUNDATIONS. | |
| 20 | 20 | Be it enacted by the Senate and House of Representatives in General | |
| 21 | 21 | Assembly convened: | |
| 22 | 22 | ||
| 23 | 23 | That chapter 665 of the general statutes be amended to require each 1 | |
| 24 | 24 | residential mortgage loan issued by a Connecticut bank or Connecticut 2 | |
| 25 | 25 | credit union on or after October 1, 2021, to authorize mortgage 3 | |
| 26 | 26 | forbearance, for a period not to exceed one hundred twenty days, to any 4 | |
| 27 | 27 | mortgagor who provides documentation that the real property securing 5 | |
| 28 | 28 | such residential mortgage loan requires repairs because it contains a 6 | |
| 29 | 29 | concrete foundation that has deteriorated in whole or in part due to the 7 | |
| 30 | 30 | presence of pyrrhotite. 8 | |
| 31 | 31 | Statement of Purpose: | |
| 32 | 32 | To require certain residential mortgage loans to include a provision that | |
| 33 | 33 | authorizes mortgage forbearance if the home requires repairs related to | |
| 34 | 34 | the presence of pyrrhotite in the foundation. |