Bill Text: IL HB3751 | 2009-2010 | 96th General Assembly | Introduced

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Bill Title: Amends the Illinois Worker Adjustment and Retraining Notification Act. Provides that, if an employer orders a mass layoff, relocation, or employment loss and fails to notify employees, then an employee shall be allowed to suspend interest payments on a home mortgage for 180 days and then pay the deferred interest in equal installments over the remaining term of the mortgage loan.

Sponsorship: Partisan Bill (Democrat 1)

Status: (Introduced - Dead) 2009-03-13 - Rule 19(a) / Re-referred to Rules Committee [HB3751 Detail]

Download: Illinois-2009-HB3751-Introduced.html

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96TH GENERAL ASSEMBLY State of Illinois 2009 and 2010 HB3751 Introduced 2/25/2009, by Rep. Jehan A. Gordon SYNOPSIS AS INTRODUCED:
820 ILCS 65/42 new
Amends the Illinois Worker Adjustment and Retraining Notification Act. Provides that, if an employer orders a mass layoff, relocation, or employment loss and fails to notify employees, then an employee shall be allowed to suspend interest payments on a home mortgage for 180 days and then pay the deferred interest in equal installments over the remaining term of the mortgage loan.
LRB096 09958 WGH 20122 b
A BILL FOR
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AN ACT concerning employment.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Illinois Worker Adjustment and Retraining
Notification Act is amended by adding Section 42 as follows:
(820 ILCS 65/42 new)
Sec. 42. Suspension of employee's mortgage interest
payments.
(a) Notwithstanding any other law to the contrary, if an
employer fails to give notice as required by paragraph (1) of
subsection (a) of Section 10, then a person who is domiciled in
this State and who is an employee entitled to notice may
secure, if a request is made within 180 days after the order of
mass layoff, relocation, or employment loss, a suspension of
the payment of interest on a mortgage loan that was secured by
the person, or the person and another person jointly, before
the date of the order.
(b) A person may make a request under subsection (a) by
mailing a written request to the mortgagee. The request must
include: (i) a statement, supported by documentation, that on a
specified date a mass layoff, relocation, or employment loss
was ordered by an employer and (ii) an affidavit stating that
the person is an employee entitled to notice from that employer

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and further that the person is a mortgagor of the mortgage loan
with respect to which the request is being made. Upon receipt
of the request with the required information, the mortgagee
shall grant a suspension of the payment of interest, effective
as of the date of the order. The suspension shall remain in
effect for 180 days after the date of the order, and interest
that was incurred during that time shall be paid, after the
expiration of the suspension, in equal installments over the
remaining term of the mortgage loan.
(c) Nothing in this Section affects the payment of loan
principal, escrow, or other fees that are required by the
mortgage loan agreement.
(d) As used in this Section:
"Mortgagee" means the holder of a mortgage loan.
"Mortgage loan" means a loan made to a natural person or
persons to whom credit is offered or extended primarily for
personal, family, or household purposes that is secured by a
mortgage constituting a lien upon real property located in this
State on which there is erected or to be erected a structure
that is the primary residence of the natural person or persons,
containing one to 6 dwelling units, a portion of which may be
used for nonresidential purposes, in the making of which the
mortgagee relies primarily upon the value of the mortgaged
property.