During debate on the bill late in the session amendments were offered that removed the moratorium in favor of a study to be conducted by state agencies. PGCAR ACTION - PGCAR was OPPOSED to any foreclosure moratorium effort.
The bill then morphed into a strict foreclosure moratorium and later was amended into an effort to require the Department of Housing and Community Development and the Commissioner of Financial Regulation to study foreclosures in Prince George's County. Originally introduced as a moratorium on the ability to foreclose certain mortgage products, which included some ARMs, interest only mortgages, no 'doc' loans, and more. This bill took on several changes since its introduction at the start of the 2014 General Assembly. HB 1021 - Foreclosure - Report by DHCD and Commissioner of Financial Regulation
Mike Graziano, Director of Government Affairs, PGCAR 2014 Prince George's County Annapolis Delegation Issues
