96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
HB3751


 
Introduced 2/25/2009, by Rep. Jehan A. Gordon
 
SYNOPSIS AS INTRODUCED:
 		













820 ILCS 65/42 new










    Amends the Illinois Worker Adjustment and Retraining Notification Act. Provides that, if an employer orders a mass layoff, relocation, or employment loss and fails to notify employees, then an employee shall be allowed to suspend interest payments on a home mortgage for 180 days and then pay the deferred interest in equal installments over the remaining term of the mortgage loan. 
















LRB096 09958 WGH 20122 b

















 


 


A BILL FOR









 











HB3751

LRB096 09958 WGH 20122 b






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    AN ACT concerning employment.

 
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    Be it enacted by the People of the State of Illinois,
 
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represented in the General Assembly:


 
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    Section 5. The Illinois Worker Adjustment and
Retraining 
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Notification Act is amended  by adding Section 42 as follows:
 
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    (820 ILCS 65/42  new)
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    Sec. 42. Suspension of employee's mortgage interest 
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payments.
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    (a) Notwithstanding any other law to the contrary, if an 
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employer fails to give notice as required by paragraph (1) of 
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subsection (a) of Section 10, then a person who is domiciled in 
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this State and who is an employee entitled to notice may 
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secure, if a request is made within 180 days after the order of 
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mass layoff, relocation, or employment loss, a suspension of 
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the payment of interest on a mortgage loan that was secured by 
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the person, or the person and another person jointly, before 
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the date of the order.
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    (b) A person may make a request under subsection (a) by 
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mailing a written request to the mortgagee. The request must 
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include: (i) a statement, supported by documentation, that on a 
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specified date a mass layoff, relocation, or employment loss 
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was ordered by an employer and (ii) an affidavit stating that 
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the person is an employee entitled to notice from that employer 
 


 






HB3751
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LRB096 09958 WGH 20122 b




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and further that the person is a mortgagor of the mortgage loan 
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with respect to which the request is being made.  Upon receipt 
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of the request with the required information, the mortgagee 
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shall grant a suspension of the payment of interest, effective 
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as of the date of the order.  The suspension shall remain in 
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effect for 180 days after the date of the order, and interest 
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that was incurred during that time shall be paid, after the 
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expiration of the suspension, in equal installments over the 
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remaining term of the mortgage loan.
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    (c) Nothing in this Section affects the payment of loan 
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principal, escrow, or other fees that are required by the 
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mortgage loan agreement.
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    (d)  As used in this Section:
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    "Mortgagee" means the holder of a mortgage loan.
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    "Mortgage loan" means a loan made to a natural person or 
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persons to whom credit is offered or extended primarily for 
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personal, family, or household purposes that is secured by a 
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mortgage constituting a lien upon real property located in this 
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State on which there is erected or to be erected a structure 
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that is the primary residence of the natural person or persons, 
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containing one to 6 dwelling units, a portion of which may be 
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used for nonresidential purposes, in the making of which the 
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mortgagee relies primarily upon the value of the mortgaged 
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property.