Sec. 8-265cc. Definitions.
Sec. 8-265cc. Definitions. As used in sections 8-265cc to 8-265kk, inclusive:
(1) "Aggregate family income" means the total income of persons residing in the
same household as the mortgagor and any other resident of the household declared by
the mortgagor as a dependent for federal tax purposes, from whatever source derived,
including, but not limited to, pensions, annuities, retirement benefits and Social Security
benefits, provided the authority may exclude from income (A) reasonable allowances
for dependents, (B) reasonable allowances for medical expenses, (C) all or any part of
the earnings of gainfully employed minors or family members other than the chief wage
earner, (D) income not regularly received, and (E) such other expenses as the authority
may allow;
(2) "Authority" means the Connecticut Housing Finance Authority created under
section 8-244;
(3) "Mortgage" means a mortgage deed or other instrument which constitutes a
first or second consensual lien on one-to-four family owner-occupied residential real
property located in this state, including, but not limited to, a single-family unit in a
common interest community;
(4) "Mortgagee" means the original lender under a mortgage, or its agents, successors, or assigns;
(5) "Mortgagor" means the owner-occupant of a one-to-four family residential real
property located in this state, including, but not limited to, a single family unit in a
common interest community, who is also the borrower under a mortgage encumbering
such real property;
(6) "Housing expense" means the sum of the mortgagor's monthly maintenance
expense in a common interest community, utility expense, heating expense, hazard insurance payment, taxes and required mortgage payment, including escrows;
(7) "Financial hardship due to circumstances beyond the mortgagor's control"
means: (A) A significant reduction of at least twenty-five per cent of aggregate family
household income which reasonably cannot be or could not have been alleviated by the
liquidation of assets by the mortgagor, including, but not limited to, a reduction resulting
from (i) unemployment or underemployment of one or more of the mortgagors; (ii) a
loss, reduction or delay in receipt of such federal, state or municipal benefits as Social
Security, supplemental security income, public assistance and government pensions;
(iii) a loss, reduction or delay in receipt of such private benefits as pension, disability,
annuity or retirement benefits; (iv) divorce or a loss of support payments; (v) disability,
illness or death of a mortgagor; (vi) uninsured damage to the mortgaged property which
affects liveability and necessitates costly repairs; or (vii) expenses related to the disability, illness or death of a member of the mortgagor's family, but is not related to accumulation of installment debt incurred for recreational or nonessential items prior to the occurrence of the alleged circumstances beyond the mortgagor's control in an amount that
would have caused the mortgagor's total debt service to exceed sixty per cent of aggregate family income at that time; or (B) a significant increase in the dollar amount of the
periodic payments required by the mortgage;
(8) "Consumer credit counseling agency" means a nonprofit corporation or governmental agency located in this state which has been designated by the authority to provide
homeowners' emergency mortgage assistance program counseling. A qualified consumer credit counseling agency must either be certified as a housing counseling agency
by the federal Department of Housing and Urban Development or otherwise determined
accepted by the authority;
(9) "Foreclosure mediation program" means the foreclosure mediation program
established by section 49-31m; and
(10) "Periodic payments" means principal, interest, taxes, insurance and, if applicable, condominium fees.
(P.A. 93-414, S. 1, 10; P.A. 94-185, S. 1, 10; P.A. 08-176, S. 5.)
History: P.A. 93-414 effective July 1, 1993; P.A. 94-185 redefined "mortgagee" to clarify the requirement that an
assignee must agree to participate in the program, effective June 2, 1994; P.A. 08-176 redefined "mortgage", "mortgagee",
"mortgagor" and "financial hardship due to circumstances beyond the mortgagor's control", defined "foreclosure mediation
program" and "periodic payments" and made technical changes throughout, effective July 1, 2008.