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New Loan Program Could Help Connecticut Homeowners with Foundation Woes

May 30, 2019

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Connecticut lawmakers are working to provide additional assistance to homeowners impacted by the crumbling foundations problem.

The House of Representatives last week advanced a bill to the Senate, by a vote of 131-7, requiring the Connecticut Housing Finance Authority to administer a new supplemental loan program. CHFA would guarantee loans made by banks and credit unions to owners of homes damaged by an iron sulfide that reacted naturally with oxygen and water.

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