Governor Dannel P. Malloy released the following statement upon final passage today of House Bill 6355 -- An Act Concerning Homeowner Protection Rights. The bill, introduced by Governor Malloy in January, requires all parties participating in the Foreclosure Mediation Program to mediate in good faith and establishes a reporting requirement to track the actions and behavior of the parties during this process. It also creates a fast track foreclosure process to let the banks take ownership and sell properties when a homeowner has abandoned the property.
"Strong, stable communities are critical drivers of economic development," Governor Malloy said. "Ensuring a fair, expedient process for everyone in a foreclosure process is an important step towards protecting people and neighborhoods across Connecticut. My appreciation to the co-chairs of the Banks Committee, State Representative William Tong and Senator Carlo Leone, for their work on this bill, and to the other legislators who made sure distressed homeowners will be protected from unfair practices. This legislation, in conjunction with our mortgage assistance events and other programs, will help keep more people in their homes."