An Act relative to the relief of mortgage debt
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This bill, titled ‘An Act relative to the relief of mortgage debt,’ proposes legislation aimed at addressing the challenges faced by homeowners struggling with mortgage debt. It seeks to provide a framework for potential mortgage relief measures, though the specific details of those measures are not yet defined within the bill itself. The bill was referred to the Joint Committee on Revenue for further consideration and potential revisions. It is one of several similar bills that have been introduced in the Massachusetts legislature over the years.
Key provisions
- Establishes a process for considering mortgage relief options.
- Directs the Joint Committee on Revenue to study the feasibility of mortgage relief measures.
- Allows for the creation of a task force to examine the issue.
- May include provisions for loan modifications or other assistance programs.
- Addresses the impact of mortgage debt on homeowners' financial stability.
Who is affected
- Homeowners with mortgage debt
- Massachusetts residents struggling with mortgage payments
- Financial institutions involved in mortgage lending
Notable changes
- The bill outlines a need for further study and consideration of potential mortgage relief measures.
- It builds upon previous attempts to address mortgage debt challenges in Massachusetts.
Bill text
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Sponsors
Official sponsors from legislative records.
2 on record
Primary sponsor
Cosponsor
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