Synopsis As Introduced
Added Amendment # 3
Amends the Consumer Fraud and Deceptive Business Practices Act. Provides that a lender, or agent of a lending company, when offering terms for a mortgage note for the purchase of a manufactured home, shall disclose: (1) any affiliation between the landlord and the lending company; (2) that the loan is a chattel loan; (3) that the terms of a chattel loan prohibit refinancing; and (4) any other reason that prohibits refinancing. Provides that a violation constitutes an unlawful practice within the meaning of the Act.
Amends the Mobile Home Landlord and Tenant Rights Act. Provides that if exigent circumstances arise, the park owner is responsible for providing a water supply to each household following a 5-day period of no water.