Real Property - Lien Priority of Refinance Mortgages - Exception for Government Junior Mortgages
Sponsor: Marvin E. Holmes, Jr. (District 23)Committee: Environment and TransportationSubject: Real PropertyStatus: Enacted under Article II, Section 17(c) of the Maryland Constitution - Chapter 163 (as of Nov 6, 2020)
What this bill does
Official synopsis
Establishing that a certain provision of law authorizing a mortgagor or grantor to refinance the indebtedness secured by a first mortgage or deed of trust without obtaining permission from the holder of a certain junior lien does not apply to a junior lien securing a loan made by a state or local government agency with a 0% interest rate; and providing for the prospective application of the Act.
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Testimony (4)
MGA witness listFAV 4Favorable
| Position | Witness | Organization | Testimony |
|---|---|---|---|
| FAV | Pickels, Hunter | Md DHCD | Oral + Written (PDF) |
| FAV | Mitchell, Susan | Md Realtors | Written (PDF) |
| FAV | green, richard | mmbbar | Written (PDF) |
| FAV | Delegate Holmes, Delegate Holmeslegislator | Individual | Position only |