Connecticut Seal

General Assembly

 

Proposed Bill No. 5314

 

January Session, 2009

 

LCO No. 2065

   

Referred to Committee on Banks

 

Introduced by:

 

REP. BARTLETT, 2nd Dist.

 

AN ACT CONCERNING MORTGAGE PAYMENTS.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

That the general statutes be amended to require mortgage creditors that accept monthly mortgage installment payments at a branch of a bank in the state to permit a customer or such customer's attorney to make a final mortgage installment payment on the day of closing.

Statement of Purpose:

To permit mortgage customers to avoid additional interest charges by allowing such customers to make a final mortgage payment on the date of closing, rather than requiring the final payment to be sent out of state.