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

Incoming House leadership announces 2015-16 committee membership (12/18/2014 4:05:00 PM)
Human rights claim possible, Housing committee learns (12/5/2014 4:08:00 PM)
Forecast message: ‘We’re leaving you in pretty good shape’ (12/5/2014 12:36:00 PM)
Billion dollar surplus anticipated for new biennium (12/4/2014 10:07:00 AM)
House committee schedule released for 2015-16 biennium (11/26/2014 12:57:00 PM)
New House committee structure unveiled (11/18/2014 11:19:00 AM)
Daudt is Republican choice for speaker; Peppin majority leader (11/7/2014 3:08:00 PM)
Thissen to continue leading DFL in minority (11/6/2014 9:24:00 PM)
Voters return Republicans to power in House (11/5/2014 9:02:00 AM)
Mathiowetz to retire as House chief clerk (11/3/2014 3:28:00 PM)
Joint committee seeks answer to rail congestion (9/30/2014 5:11:00 PM)

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