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Committee hears bill to shorten enforcement window for old mortgages, sponsors cite consumer harms
Summary
Lawmakers and industry witnesses told the Commerce & Consumer Affairs Committee that House Bill 437 would make long‑recorded, undischarged mortgages unenforceable sooner and cut court time and title work. Supporters framed the bill as consumer protection; bankers and some lawmakers pressed on notice and implementation details.
House Bill 437 would shorten the time that certain recorded mortgages remain enforceable and create a statutory process for clearing obsolete liens, Rep. Bill Boyd told the House Commerce and Consumer Affairs Committee.
Supporters including the bill’s prime sponsor, Rep. Bill Boyd, and cosponsors said the change would help conveyancers, title insurers and homeowners by reducing the number of “undischarged mortgages” that linger in county registries long after lenders stop servicing a loan.
“This is a consumer bill,” Rep. Bill Boyd said. “It’s going to provide a necessary remedy to consumers and attorneys and conveyancers that have had this particular problem with obsolete mortgages.” Boyd said the proposal follows models in other states — notably Massachusetts — and would void mortgages five years after a stated maturity date and make…
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