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91_HB4324ham001
LRB9110042MWgcam02
1 AMENDMENT TO HOUSE BILL 4324
2 AMENDMENT NO. . Amend House Bill 4324 on page 2,
3 line 9, by replacing "2 full monthly installments" with "one
4 full monthly installment"; and
5 on page 2, line 10, by replacing "are" with "is"; and
6 on page 2, by replacing lines 16 through 20 with "correct the
7 delinquency on the mortgage;"; and
8 on page 4, by replacing lines 12 through 27 with "paragraph
9 (2) of this subsection."; and
10 on page 4, by replacing lines 28 through 34 with the
11 following:
12 "(2) Notice of legal action. The mortgagee must
13 include the following statement, in large bold type, with
14 the first delinquency notice mailed to the mortgagor
15 following an unpaid mortgage obligation: IF YOU NEED HELP
16 PAYING YOUR MORTGAGE AND WANT TO AVOID PENALTIES, YOU MAY
17 BE ELIGIBLE FOR THE STATE'S EMERGENCY MORTGAGE ASSISTANCE
18 PROGRAM BY CALLING 1-8xx- (insert appropriate toll-free
19 number) IMMEDIATELY. THIS DOES NOT CHANGE THE RIGHT OF
20 YOUR LENDER TO ENFORCE THE MORTGAGE AGREEMENT."; and
21 on page 5, by replacing lines 1 through 31 with the
-2- LRB9110042MWgcam02
1 following:
2 "(e) Application for assistance.
3 (1) Referral to designated agency. The Chairman
4 must arrange for the administration of the toll-free
5 number required under subsection (d), using existing
6 State services where possible, and must provide for
7 referral of the mortgagor to the appropriate designated
8 agency in the mortgagor's vicinity. The mortgagor may
9 request assistance from the designated agency or any
10 other agency that provides financial counseling
11 assistance. The agency shall assist the mortgagor,
12 before making an application under this Section, to work
13 with the mortgagee to restructure the mortgagor's
14 mortgage payment schedule."; and
15 on page 5, by deleting line 34; and
16 on page 6, line 1, by deleting "the date of the meeting"; and
17 on page 6, line 11, by deleting "to"; and
18 on page 7, line 4, after "agency", by inserting "or any other
19 financial counseling assistance agency that elects to make
20 applications available"; and
21 on page 11, by inserting below line 17 the following:
22 "(h) Nothing in this amendatory Act of the 91st General
23 Assembly shall be construed to impair the legal right of
24 mortgagees to enforce contracts or mortgage agreements.".