H.R.1106 - Helping Families Save Their Homes Act of 2009 Sponsor: John Conyers / 111th Congress

Title
111th Congress - To prevent mortgage foreclosures and enhance mortgage credit availability.
Summary
Computation of debt will not include debt incurred by a person's home and bankruptcy(Ch. 13)will be avoided if payment to debtors would require the foreclosure of one's home. Loan repayment contracts and mortgages may be subject to cancellation or amendment if payment would require the foreclosure of the debtor's home. Fees and charges to debt files are limited. (by MAPLight.org)
Status
The bill was voted on in the House on March 5, 2009

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Interests who did want this bill to become law included these interests and specific groups:

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Interests who did not want this bill to become law included these interests and specific groups:

Contribution data provided by the Center for Responsive Politics (OpenSecrets.org)

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Watch Out for this Related Legislation by Alina Fortson, Feb 27, 2009 (12:20am)

Related bills: HR 200, HR 703 and S. 61

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Opposition cites false information by Alina Fortson, Mar 2, 2009 (6:56pm)

Opposition to HR 1106 from the banking/lending industry includes false information. Contrary to what is stated in an opposition letter, millionaires will not be able to benefit from this legislation (there is a section in the bill that specifically prohibits it). Additionally, this legislation has a strict time frame and will therefore only impact current homeowners and those affected by the recent foreclosure crisis—not future buyers and lenders. Lastly, HR 1106 is in fact a compliment to President Obama’s proposals for helping American families cope with and avoid the housing crisis. It is important to avoid partisan debates on issues such as these that require our immediate action. HR 1106 helps Americans keep their homes and this should take precedence over lender profits.

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HR1106 SAVE AMERICAN HOME INDUSTRY IT IS BIGGER THAN AIG TOO FAIL by Anonymous, Mar 6, 2009 (2:23am)

FEDERAL HOUSING ADMISTRATION SHALL BUY DIRECTLY FROM HOME OWNERS OR FORECLOSED HOMES FROM MARKET ON THE PREVIOUSLY APPRASIED VALUE OF HOME AT THE TIME WHEN LOAN WAS ORIGINATED AND SELL THEM TO PROSPECTIVE BUYERS IN OPEN MAKET AT CURRENT VALUEASSESSED BUY THE COUNTY TAX DEPARTMENT OTHERWISE HOUSING FOUNDATION SHALL BE FORMED UNDER FHA TO FREELY REFINANCED THE MORTGAGES OF THOSE HOUSES WHERE HOME VALUES ARE LOWER THAN OWED LOANS ON HOME OWNERS AS A LAST RESORT POWERS SHALL BE GIVEN TO COUNTY COURTS TO REDUCE THE PRINCIPAL BALANCE FROM THE LOAN TO MAKE IT EQUAL AMOUNT TO TAX ASSESSED VALUE OF THE HOUSE AND SAVE HOME OWNERS FROM BANKRUPCY STIGMA ON THEIR CREDIT HISTORY GOVERMENT SHLOUD HELP HOME OWNERS WITH FULL SUPPORT AS HAS BEEN DOING TO AIG SINCE AMERICAN HOUSEING INDUSTERY IS TOO BIG TO FAIL.

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TO THOSE IN "FAVOR" OF HR1106 , AND SENATE VERSION S.61 by Anonymous, Apr 12, 2009 (2:38pm)

TO ALL OF YOU “IN FAVOR “ OF “HELPING FAMILES SAVE THEIR HOMES”. **** THE TIME IS NOW... MORE THAM EVER TO MAKE YOUR VOICE HEARD!

THE SENATE IS OUT IN RECESS UNTIL APRIL 20TH AND THIS BILL WILL BE UP FOR CONSIDERATION.

THE BANK INDUSTRY IS LOBBYING BIG TIME IN AN ALL OUT EFFORT TO ATEMPT TO DEFEAT “HELPING FAMILIES SAVE THEIR HOMES”
******************************************

THE BILL NEEDS 60 VOTES TO PASS AND SEVERAL SENATORS ARE NOT CONVICED OR WANT A WATERED DOWN VERSION TO GET IT TO PASS AS THEY ARE BEING SEEMINGLY “BOUGHT OUT” BY THE BANK INDUSTRY AND DELAYING AND THINKING SUPPORTERS ARE NOT PAYING THAT MUCH ATTN....

  • WRONG ! THE WORD IS GETTING OUT ALL OVER WEBSITES AND A BATTLE IS BREWING. THOUSANDS IN SUPPORT HAVE BEGAN EMAILING, CALLING, WRITING, PETITION S.61 HUNDREDS HAVE SIGNED ON FROM EVERY CORNER OF THE US AND THIS THE BEGINNING.

THE BANKING INDUSTRY WAS “BAILED OUT” WITH BILLIONS. AND AFTER HANDING OUT MILLIONS IN BONUSES AND SETTING OFF THE AMERICAN PUBLIC IN A MAD RAGE... WHAT DO THEY DO….THEY ARE AT IT AGAIN

THIS TIME THEY ARE USING THAT BORROWED MONEY TO… LOBBY AGAINST HR 1106, S.61 “HELPING FAMILIES SAVE THEIR HOMES”

*DON’T LET THEM “BUY OUT” YOUR SENATORS

CONTACT EVERY SENATOR POSSIBLE; IT IS SIMPLE TO CONTACT “GOOGLE MY SENATE.. THE LINKS WILL LEAD TO ENTIRE SENATE CONTACT LIST; EMAIL, FAX, PONE MESSAGE AS MANY AS YOU CAN IT ONLY TAKES A FEW MINUTES.

“DEMAND THAT YOUR SENATORS PASS S.61 “HELPING FAMILIES SAVE THEIR HOMES”

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