Renee Healion
Elite Member
- Joined
- Feb 21, 2004
- Professional Status
- Certified Residential Appraiser
- State
- Connecticut
Today, from an email to me as a Realtor. My bold:
New Legislation Effective July 1... REALTORS® Take Note!
Most bills enacted into law don’t take effect until October 1, but two significant ones were triggered on July 1, 2008. An Act Concerning Responsible Lending, Public Act 08-176, establishes a new “HERO” program to aid qualified homeowners in danger of foreclosure. It authorizes CHFA to purchase their loans directly from lenders and place the borrower on an affordablepayment plan. The bill also funds the separate Emergency Mortgage Assistance Program and continues the CT Families refinancing program. The legislation prohibits realestate brokers, salespersons and mortgage brokers from influencing real estate appraisals. Public Act 08-1 overturns the scheduled sunset of the extra real estate conveyance tax. That sunsetwould have happened automatically on July 1 had the Legislature not come back in “Special Session”.Therefore, all rates remain at the higher levels imposed in 2003 that were supposed to be temporary, click here for details.
New Legislation Effective July 1... REALTORS® Take Note!
Most bills enacted into law don’t take effect until October 1, but two significant ones were triggered on July 1, 2008. An Act Concerning Responsible Lending, Public Act 08-176, establishes a new “HERO” program to aid qualified homeowners in danger of foreclosure. It authorizes CHFA to purchase their loans directly from lenders and place the borrower on an affordablepayment plan. The bill also funds the separate Emergency Mortgage Assistance Program and continues the CT Families refinancing program. The legislation prohibits realestate brokers, salespersons and mortgage brokers from influencing real estate appraisals. Public Act 08-1 overturns the scheduled sunset of the extra real estate conveyance tax. That sunsetwould have happened automatically on July 1 had the Legislature not come back in “Special Session”.Therefore, all rates remain at the higher levels imposed in 2003 that were supposed to be temporary, click here for details.