General Assembly |
Proposed Bill No. 89 |
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January Session, 2015 |
LCO No. 854 | ||||
*00854* | |||||
Referred to Committee on BANKING |
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Introduced by: |
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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.