Sunday, February 24, 2013

Testimony for February 22, 2013

HB 21 HD1 - Relating to Condominiums - Repeals the prioritization of liens for unpaid mortgages over subsequently recorded liens for unpaid condominium association fees. Clarifies the obligations of the acquirer of a foreclosed unit under the lien for unpaid association fees. Effective July 1, 2112.

SB 1370 SD1 - Relating to Mediation Affecting Judicial Foreclosure - Expands the application of mandatory mortgage foreclosure dispute resolution by requiring mortgagees, at the mortgagor's election, to participate in mediation to avoid foreclosure or mitigate damages from foreclosure prior to filing a judicial foreclosure action for property that has been the mortgagor's primary residence for a specified period. Applies the dispute resolution requirement to judicial foreclosure actions filed prior to the effective date of this bill and pending an initial court hearing.