SB3535 - Tennessee: Mortgages, Tennessee Housing Development Agency

Companion Bill HB2963. Mortgages - Establishes the Homeowner's Emergency Mortgage Assistance Fund and delays foreclosure actions under specific circumstances. - Amends TCA Title 7; Title 13 and Title 45. Fiscal Summary for SB3535 / *HB2963Other Fiscal Impact - In order to implement the program as proposed, a minimum of $195,000,000 in state funds will need to be appropriated to the Homeowners Emergency Mortgage Assistance Fund. Such amount is assumed to be sufficient for start-up expenditures incurred by THDA to launch the program and for resolving current mortgagor delinquency. However, more will be required if future delinquency is taken into consideration. Bill Summary for SB3535 / *HB2963 This bill establishes the Homeowner's Emergency Mortgage Assistance Fund to provide mortgage assistance to eligible mortgagors. The assistance would be [...]

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