Connecticut passed a bill amending release of lien provisions. Under the bill, a lender or servicer must execute and deliver a release of lien to the town clerk of the town in which the property is situated or to the borrower or designated representative of the borrower (if requested in writing by the borrower or a designated representative). The bill also requires a lender or servicer to deliver a copy of the release to the borrower concurrently with the delivery of the release to the town clerk if the release is not requested by the borrower or a designated representative of the borrower. In addition, the bill requires a lender or servicer to send a modification agreement entered into pursuant to the Foreclosure Mediation Program to the borrower for execution at least 15 business days prior to the 1st modified payment due date. The bill becomes effective October 1, 2023.
Click to view the Connecticut HB 6688: https://www.tenaco.com/wp-content/uploads/2023/09/CT-HB-6688-06-14-23.pdf
