Capitol News from State Senator Anthony Musto

March 2012

Capitol address
Legislative Office Building
Room 2000
Hartford, CT 06106-1591

On the Web
www.SenatorMusto.cga.ct.gov

Phone
Capitol: 860-240-0498
Toll-free: 1-800-842-1420

Jobs Fair in Bridgeport

Last month, I was pleased to join U.S. Senator Richard Blumenthal for a Jobs Fair at the University of Bridgeport.

Jobs Hundreds of people came out to meet with potential employers, polish their resumes and brush up on interview skills. Companies were present from a wide variety of industries, including manufacturing, engineering, sales, nursing, marketing, banking and more.

Connecticut had some excellent economic news just last week, when the latest jobs report showed our state’s unemployment rate has dropped to a three-year low of 8 percent. 7,100 new jobs were added in January alone, which is a very hopeful sign for the rest of the year to come.

Last fall, I voted for a bipartisan Jobs Bill which is now in effect and helping put people back to work. This year, I am supporting an expansion of these job creation initiatives targeted specifically to aid small businesses, our state’s greatest employers.

It is far too early to take our eye off the ball now, but I am optimistic that better times may lie soon ahead for our families.

Fighting Fraudulent Foreclosures

Mortgages Thousands of Connecticut residents who fell victim to unfair foreclosure practices are in store for some financial relief thanks to this month’s $25 billion federal mortgage settlement. Connecticut is slated to receive $200 million from the largest federal-state financial settlement in history, money that will help families stay in their homes.

Under the settlement:

Connecticut borrowers will receive about $119 million in benefits in the form of loan modification relief.
The estimated 7,500 Connecticut borrowers who lost their homes to foreclosure from 2008 through 2011 and who suffered abuse by lenders could qualify for $1,500 in cash payments.
Nearly $36 million will be available to help struggling homeowners refinance their loans.
The state will receive a direct payment estimated at $27 million to help fund local foreclosure prevention programs.
The Attorney General’s office has posted some guidelines to determine if you qualify for a portion of the settlement.

In related news, I have been working on legislation this year that would prevent banks from seeking a home mortgage foreclosure unless they also possess the title to that property, and restore the practice of requiring changes in the assignment of a mortgage to be recorded on municipal land use records. I believe these changes in the law would help prevent future fraudulent foreclosures in Connecticut.

For those who might be interested, a Homeowners Mortgage Assistance Event will be held at the Webster Bank Arena in Bridgeport from 10 AM to 7 PM on March 29th. Multiple lenders will be present to help those having difficulty with their mortgages.

Visit the event web site for more information on available services and documentation attendees may wish to bring.

Protecting Consumers in Connecticut

In the wake of last year’s devastating hurricane and winter storms, we have proposed legislation that would extend protection from price-gouging to weather-related services and emergency lodging in the event of a severe storm. Services covered by the bill include snow removal, flood abatement services, lodging and post-storm clean-up or repair services.