1.1 	A bill for an act
1.2 	relating to real estate; foreclosure forbearance for unemployed long-term 
1.3 	homeowners;proposing coding for new law in Minnesota Statutes, chapter 580.
1.4 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.5 	Section 1. [580.0211] FORECLOSURE FORBEARANCE FOR FINANCIAL 
1.6 	HARDSHIP OF UNEMPLOYED LONG-TERM HOMEOWNERS.
1.7 	(a) Upon request and proof of eligibility provided by the mortgagor, a mortgagee 
1.8 	shall defer commencement or continuation of a mortgage foreclosure for at least 12 
1.9 	months for mortgagors: (1) who have lived in their current home that is subject to the 
1.10 	mortgage for at least ten years; and (2) at least one of whom is unemployed and eligible 
1.11 	for unemployment compensation or whose eligibility for it has expired.
1.12 	(b) Mortgagors who qualify under paragraph (a) and have lived in their current home 
1.13 	that is subject to the mortgage for at least 20 years may request, and the mortgagee must 
1.14 	provide, a deferral of commencement or continuation of foreclosure of at least 24 months.
1.15 	(c) A mortgagor may request and receive a deferral under paragraph (a) or (b) at 
1.16 	any time before or during a foreclosure.
1.17 	(d) Interest may continue to accrue on the loan, unless otherwise agreed between 
1.18 	the parties.
1.19 	(e) The mortgagee must notify in writing, as part of the notice of default, any 
1.20 	potentially eligible mortgagor of the mortgagor's rights under this section.