Governor Malloy introduces bill to help homeowners

HARTFORD, Conn. (WTNH) -- Struggling homeowners may soon be getting some help thanks to a bill introduced by Governor Dannel Malloy.

He says the legislation will help support those in danger of losing their homes, and hopefully even stop some foreclosures from happening.

For some, the summit of the American dream is home ownership, but how easy it is for that dream to come crashing down.

"I was served with foreclosure papers September 3, 2010," said Debbie Sargunas, "I started mediation in September 2010, it was not a good experience for me."

Thomaston's Debbie Sargunas says working with a bank to find a solution was fruitless, roadblock after roadblock fostered frustration, a for sale sign on the front yard, looming.

"We're going to change the rules," said Governor Malloy.

Governor Malloy is submitting legislation requiring banks to have a representative who has full settlement authority at each mediation session. He's hoping the enforcement will keep people in their homes, while at the same time avoiding blight.

"We want to make sure that the mediation process is to get to 'yes,' or for that matter, 'no,' quickly.  People deserve to know whether there is a basis to re-stack their mortgage or change their payments or have an adjustment of any type," Governor Malloy said.

Last year, there were more than 19,000 petitions for foreclosure in the state. 

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Connecticut (change)

 
Connecticut has 169 cities and towns, which serve as the fundamental local political subdivision of the state. Connecticut is the 5th of the original thirteen United States.
 
Offices & Officials

Governor: Dan Malloy
Lieutenant Governor: Nancy Wyman
Attorney General: George Jepsen
State Treasurer: Denise L. Nappier

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