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Rep. Hollis introduces bill to allow biweekly mortgage payments; HB55 sent to subcommittee
Summary
Rep. Hollis introduced HB55 to require financial institutions to allow mortgagors to make biweekly or semimonthly payments and to permit additional principal payments without penalty; the committee referred the bill to Rep. Witt’s subcommittee for further work.
Representative Hollis introduced HB55, saying the bill "would require financial institutions to allow mortgagors to make mortgage payments biweekly or semimonthly and also enable them to make additional payments toward the mortgage principal without a penalty." The committee voted by voice to refer the measure to a subcommittee for further consideration.
The bill is designed to give homeowners more…
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