Sec. 49-31g. Restructuring of mortgage debt by court. - Connecticut Statutes

      Sec. 49-31g. Restructuring of mortgage debt by court. (a) If it determines that a homeowner who is an underemployed person is eligible for protection from foreclosure pursuant to subsections (a) and (c) of section 49-31f, the court in its discretion may order the restructuring of the mortgage debt of such homeowner so as to eliminate any arrearage in payments on the mortgage debt and may allow a restructuring period not to exceed six months.

      (b) If it determines that a homeowner who is an unemployed person is eligible for protection from foreclosure pursuant to subsection (a) of section 49-31f, the court shall order the restructuring of the mortgage debt to eliminate any arrearage in payments on the mortgage debt and shall order a restructuring period not to exceed six months.

      (P.A. 83-547, S. 9; June Sp. Sess. P.A. 83-29, S. 74.)

      History: June Sp. Sess. P.A. 83-29 revised section and added provisions requiring determination of court that homeowner who is underemployed or unemployed is eligible for foreclosure protection pursuant to Sec. 49-31f prior to ordering restructuring of mortgage debt.

      Cited. 29 CA 541. Cited. 31 CA 260. Cited. 34 CA 138. Cited. 43 CA 467.