Minnesota House of Representatives

Menu

Public Information Services Menu

Session Daily

Housing

A two-year moratorium on foreclosure sales proposed.

published 2/9/2010
Share on: 


A two-year moratorium on residential foreclosures could give struggling homeowners a better shot at keeping their property.

Rep. Jeff Hayden (DFL-Mpls) sponsors HF2604, which would allow people facing foreclosure to stay in their homes as they attempt to negotiate with lenders. Hayden said he believes the legislation would help stabilize communities by giving homeowners more time to work with banks.

Another part of the bill offers protection to renters living in a building under foreclosure.  Landlords would need to inform renters of continued utility services and new owners would need to offer fair market rent to existing tenants.

The House Housing Finance and Policy and Public Health Finance Division approved the bill and sent it to the House Commerce and Labor Committee.

Some members said they believed the group did not have adequate time to discuss the legislation, and an amendment to forward the bill without a recommendation was approved in a roll-call vote 7-5.

A Senate companion bill, SF2242, sponsored by Sen. D. Scott Dibble (DFL-Mpls), awaits action by the Senate Health, Housing and Family Security Committee.

- Lauren Radomski


Session Daily Home

Select storys by topic:

Search Session Daily


Subscribe to Session Daily Updates.

Session Daily News Feed



Latest Session Daily stories

State budget surplus jumps by $832 million to almost $1.87 billion (2/27/2015 9:32:00 AM)
Technical fix to 2009 law passes House (2/26/2015 5:47:47 PM)
Could pre-registration help get young voters to the polls? (2/26/2015 5:25:00 PM)
Stopgap funding bill that for now settles salary kerfuffle goes to the governor (2/26/2015 5:00:04 PM)
House votes to ease requirements on plats, contracts for deed (2/26/2015 4:54:37 PM)
New PCA oversight considered by environment committee (2/26/2015 4:37:00 PM)
Old law about newborns needs new ideas to reach new moms, committee hears (2/26/2015 3:31:00 PM)
Lawmakers feel way toward compromise on digital license plate readers (2/26/2015 1:50:00 PM)
Six state employee labor agreements and compensation plans get committee OK (2/26/2015 9:35:00 AM)
Agreement on deficiency/salary bill expected on House Floor Thursday (2/25/2015 7:54:00 PM)
DHS, counties commit to fixing MNsure but commissioner says it'll take time (2/25/2015 5:52:56 PM)

  • More news and search
  • Public Information Services  ·   175 State Office Building, Saint Paul, MN 55155   ·   Public.Information@house.mn