CONCORD, N.H. (AP) New Hampshire lawmakers are considering a measure that would assist homeowners and renters after moratoriums on evictions and foreclosures during the coronavirus pandemic are lifted.
Homeowners unable to make timely mortgage payments during the state of emergency would be able to pay accrued interest and fees as additional monthly payments. Those payments would be added to the end of their mortgage, according to the measure introduced by state Sen. Dan Feltes, D-Concord. The payments would not exceed the amount of the monthly principal and interest payment that was in effect at the time the state of emergency was declared.
Banking representatives testified Tuesday that the proposal may limit options for borrowers and possibly conflict with federal regulations and assistance provided by the CARES Act.
The measure also would limit rent increases for six months after the state of emergency ends.
It was introduced as an amendment to a bill that would require notices by landlords of proposed rent increases beyond a certain percentage.
The Senate Judiciary Committee postponed acting on both until Friday.
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