Last Action | signed by Governor (Acts, ch. 31) |
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Title | AN ACT providing that a loan modification resulting in a lower interest rate is secured by the original mortgage. |
Bill Documents |
Bill
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Bill Request Number | 32 |
Sponsors | J. Greer, D. Horlander |
Summary of Original Version | Amend KRS 382.520 to provide that a real estate mortgage secures payment for modifications of the loan resulting in a lower interest rate. |
Index Headings of Original Version |
Loans and Credit - Mortgage, loan modification resulting in a lower interest rate, secured Property - Mortgage, loan modification resulting in a lower interest rate, secured Real Estate - Mortgage, loan modification resulting in a lower interest rate, secured Banks and Financial Institutions - Mortgage, loan modification resulting in a lower interest rate, secured |
Proposed Amendments |
House Committee Substitute 1 House Floor Amendment 1 |
Votes | Vote History |
01/14/14 |
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01/15/14 |
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01/17/14 |
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01/22/14 |
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01/23/14 |
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01/28/14 |
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01/29/14 |
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02/04/14 |
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03/18/14 |
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03/19/14 |
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03/21/14 |
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03/24/14 |
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03/25/14 |
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03/26/14 |
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04/07/14 |
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Amendment | House Committee Substitute 1 |
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Summary | Amend Section 1(1) to delete the term "modifications" and to substitute "renewals and extensions" which result in a reduction in the interest rate for purposes of continuation of the original mortgage as security on the renewed or extended loan. |
Index Headings |
Loans and Credit - Mortgage, loan modification resulting in a lower interest rate, secured Property - Mortgage, loan modification resulting in a lower interest rate, secured Real Estate - Mortgage, loan modification resulting in a lower interest rate, secured Banks and Financial Institutions - Mortgage, loan modification resulting in a lower interest rate, secured |
Amendment | House Floor Amendment 1 |
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Sponsor | J. Greer |
Summary | Amend Section1(1) to authorize a mortgage to secure payment of interest rate reductions, in addition to securing payment of renewals and extensions, and delete the new provision that included renewals and extensions of the loan resulting in a lower interest rate. |
Index Headings |
Loans and Credit - Mortgage, loan modification resulting in a lower interest rate, secured Property - Mortgage, loan modification resulting in a lower interest rate, secured Real Estate - Mortgage, loan modification resulting in a lower interest rate, secured Banks and Financial Institutions - Mortgage, loan modification resulting in a lower interest rate, secured |
Last updated: 8/27/2019 6:52 PM (EDT)