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Glossary of Legislative Terms

SB 1236: Mortgage Principal Reduction Program

GENERAL BILL by Soto

Mortgage Principal Reduction Program; Creating the “Mortgage Principal Reduction Act”; requiring that the Florida Housing Finance Corporation apply to the United States Department of the Treasury by a specified date to request funds not to exceed a specified amount from the federal Hardest-Hit Fund program to establish a new state program to reduce the principal on mortgages for persons whose homestead property in this state is in foreclosure; requiring the corporation to use the allocated funds to purchase delinquent mortgages on such property from lenders at a discount to reduce the mortgage principal amount due on the mortgage, etc.

Effective Date: 7/1/2013
 Last Action: 5/3/2013 Senate - Died in Judiciary
Bill Text: Web Page | PDF
Senate Committee References:
  1. Judiciary (JU)
  2. Banking and Insurance (BI)
  3. Appropriations Subcommittee on Transportation, Tourism, and Economic Development (ATD)
  4. Appropriations (AP)


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Bill History

Date Chamber Action
2/27/2013 Senate • Filed
3/1/2013 Senate • Referred to Judiciary; Banking and Insurance; Appropriations Subcommittee on Transportation, Tourism, and Economic Development; Appropriations -SJ 91
3/5/2013 Senate • Introduced -SJ 91
5/3/2013 Senate • Died in Judiciary