H.Amdt.110 - Amendment changes the grace period for renters who are renting a unit in violation of a mortgage contract put into place when that property is sold to a purchaser who intends to use the property as an owner-occupied unit, from 90 days to 30 days. Further, the amendment provides that creditors may only accelerate debt repayment in circumstances involving default in payment, a due-on-sale clause or a material violation in the contract.
About This Bill
Passed
Latest Action · May 7, 2009
On agreeing to the Perlmutter amendment (A004) Agreed to by voice vote.