AN ACT CONCERNING MORTGAGE FORECLOSURES AND UNDISCHARGED MORTGAGES.

HB 6878 sets strict time limits for foreclosure actions on residential mortgages in Connecticut. It prevents lenders from filing foreclosure lawsuits after: (1) 10 years from the last payment date (or extended date), (2) 40 years from mortgage recording (or execution if unrecorded), or (3) 10 years after an unpaid default (if no extension/payment). The bill also requires lenders to record a notice of mortgage validity to extend the timeline by 10 years, or the mortgage becomes invalid as a lien after 10 or 40 years of uninterrupted homeowner possession. This directly affects homeowners facing foreclosure and lenders seeking to enforce mortgage claims.