House Bill 131

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 THIS ACT; TO PROVIDE THAT BEFORE A MORTGAGEE MAY ACCELERATE THE MATURITY OF A MORTGAGE OBLIGATION COVERED UNDER THIS 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 THIS 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 THIS 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 THIS ACT; TO PROVIDE THAT THE CORPORATION SHALL ENTER INTO AGREEMENTS WITH MORTGAGORS WHO RECEIVE ASSISTANCE UNDER THIS ACT FOR THE REPAYMENT OF THAT ASSISTANCE; TO REQUIRE ALL MORTGAGORS WHO RECEIVE ASSISTANCE UNDER THIS 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 24 – Mar 3

1. Jan 24Referred to the House committee on Appropriations
2. Mar 3Died in committee in the House