§ 49-30p

For purposes of this section and sections 49-30q to 49-30w, inclusive:(1) 'Mortgage' has the same meaning as provided in section 49-24a;(2) 'Mortgagee' has the same meaning as provided in section 49-24a;(3) 'Mortgagor' has the same meaning as provided in section 49-24a, except a mortgagor, for the purposes of sections 49-30p to 49-30w, inclusive, shall only include those mortgagors with personal net liquid assets, excluding retirement and tax advantaged health savings plans, that are less than one hundred thousand dollars;(4) 'Residential real property' has the same meaning as provided in section 49-24a;(5) 'Senior lien' means the first security interest placed upon a property to secure payment of a debt or performance of an obligation before one or more junior liens;(6) 'Junior lien' means a security interest placed upon a property to secure payment of a debt or performance of an obligation after a senior lien is placed on such property;(7) 'Lienholder' means a person who holds a security interest in real property; and(8) 'Underwater mortgage' means a mortgage where the debt associated with such mortgage, along with any senior lien, exceeds the fair market value of the mortgaged

urity interest in real property; and(8) 'Underwater mortgage' means a mortgage where the debt associated with such mortgage, along with any senior lien, exceeds the fair market value of the mortgaged property as determined by a court in accordance with sections 49-30t and 49-30u.(P.A. 16-65, S. 73; P.A. 17-236, S. 10.)History: P.A. 17-236 made a technical change to Subdiv. (3), effective July 11, 2017.