House Bill 425

AN ACT TO ESTABLISH THE HOMEOWNER'S EMERGENCY MORTGAGE ASSISTANCE PROGRAM, WHICH SHALL BE ADMINISTERED BY THE MISSISSIPPI HOME CORPORATION; TO AUTHORIZE THE CORPORATION TO MAKE LOANS TO MISSISSIPPI RESIDENTS WHO ARE ELIGIBLE UNDER THE ACT; TO PROVIDE THAT BEFORE A MORTGAGEE MAY ACCELERATE THE MATURITY OF A MORTGAGE OBLIGATION COVERED UNDER THE ACT OR BEGIN ANY MORTGAGE FORECLOSURE, CERTAIN NOTICE MUST BE GIVEN TO THE MORTGAGOR AND A DETERMINATION MUST HAVE BEEN MADE ON THE MORTGAGOR'S APPLICATION FOR EMERGENCY MORTGAGE ASSISTANCE PAYMENTS; TO PROVIDE THAT FORECLOSURE ACTIONS ON MORTGAGES COVERED UNDER THE ACT SHALL BE TEMPORARILY STAYED; TO SPECIFY THE REQUIREMENTS FOR GIVING NOTICE TO THE MORTGAGOR; TO SPECIFY THE REQUIREMENTS FOR ELIGIBILITY FOR ASSISTANCE WITH RESPECT TO A MORTGAGE UNDER THE ACT; TO PROVIDE THAT THE CORPORATION SHALL PAY TO A MORTGAGEE THE FULL AMOUNT DUE UNDER THE TERMS OF A MORTGAGE OF A MORTGAGOR WHO IS ELIGIBLE FOR ASSISTANCE UNDER THE ACT; TO PROVIDE THAT THE CORPORATION SHALL ENTER INTO AGREEMENTS WITH MORTGAGORS WHO RECEIVE ASSISTANCE UNDER THE ACT FOR THE REPAYMENT OF THAT ASSISTANCE; TO REQUIRE ALL MORTGAGORS WHO RECEIVE ASSISTANCE UNDER THE ACT TO RECEIVE CONSUMER CREDIT COUNSELING; TO CREATE THE HOMEOWNER'S EMERGENCY MORTGAGE ASSISTANCE FUND IN THE STATE TREASURY; AND FOR RELATED PURPOSES.

In the House of Representatives

• John W. Hines, Sr.

  Sponsor

l9n doesn't hold this bill's text yet.

In the House of Representatives Jan 6 – Feb 1

1. Jan 6Referred to the House committee on Banking and Financial Services
2. Feb 1Died in committee in the House