AN ACT CONCERNING MORTGAGE FORECLOSURES AND UNDISCHARGED MORTGAGES.

SB 1336 requires mortgage lenders to provide borrowers with a 30-day written notice before initiating foreclosure proceedings on mortgages that remain unpaid. This applies directly to homeowners who have missed payments but may still resolve the issue before losing their home. The key provision mandates this notice period, including details on how to catch up on payments or seek alternatives, before lenders can begin foreclosure actions. The law aims to provide borrowers with a clear opportunity to address missed payments before facing home loss.