Section 49-31j-1 - DefinitionsAs used in sections 49-31j-1 to 49-31j-5, inclusive, of the Regulations of Connecticut State Agencies:
(1) "Additional principal" means the sum added to the existing principal balance by the court pursuant to subsection (a) of section 49-31i of the Connecticut General Statutes;(2) "Existing principal balance" means the principal balance of the mortgage debt due the lender as of the entry date of the court ordered restructuring of the mortgage debt;(3) "Homeowner" means "homeowner" as defined in section 49-31d of the Connecticut General Statutes;(4) "Lender" means "lender" as defined in section 49-31d of the Connecticut General Statutes;(5) "Original mortgage interest rate" means the interest rate set forth in the mortgage note. If the mortgage note provides for a different rate of interest after default or after judgment, those provisions shall not apply;(6) "Prevailing interest rate" means the most recent "National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders" made available by the Federal Housing Finance Board not less than fifteen nor more than forty-five days prior to the entry of the court ordered restructuring of the mortgage debt;(7) "Person who is underemployed" means an "underemployed person" as defined in section 49-31d of the Connecticut General Statutes;(8) "Person who is unemployed" means an "unemployed person" as defined in section 49-31d of the Connecticut General Statutes; and(9) "Protection from foreclosure" means "protection from foreclosure" as defined in section 49-31d of the Connecticut General Statutes.Conn. Agencies Regs. § 49-31j-1
Effective August 27, 1984; Amended February 9, 2009