2006 Senate Bill 1163

Require lenders to postpone "outsourced worker's" loan principle repayment

Introduced in the Senate

March 16, 2006

Introduced by Sen. Martha G. Scott (D-2)

To require mortgage brokers to defer the collection of principle payments on a home loan and collect interest only for 12 months if so requested by a borrower who is an "outsourced worker," or who has lost his or her job due to the bankruptcy of their employer.

Referred to the Committee on Banking and Financial Institutions