Committee unanimously advances Uniform Mortgage Modification Act to clarify loan changes
On March 25 the Senate Judiciary Committee voted 6–0 to advance House Bill 10‑89, adopting a Uniform Mortgage Modification Act that creates safe harbors for common loan changes while preserving lien priority, intended to lower foreclosure costs and encourage loan modifications.
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The Senate Judiciary Committee on Wednesday advanced House Bill 10‑89 on a unanimous voice/roll vote, endorsing a Uniform Mortgage Modification Act designed to provide legal certainty for common mortgage modifications and encourage lenders to offer workable alternatives to foreclosure.
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