H.R. 7328 · 110th Congress
Homeowners' Protection Act of 2008
Key: what the circles and colors mean
Each circle is a bill. The ring fills as it moves through Congress:
Under the number: the Yea · Nay count of its final (or latest) recorded vote. On a member's page, the small badge is how that member voted: Y Yea / Aye, N Nay / No, P Present, – Not voting.
Gold and violet are only for Yea and Nay; they never mean a party. A member's party is the letter on their photo.
Never voted on. It didn't reach a floor vote before the 110th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
ConyersSponsor2 cosponsors · 2 D
2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Homeowners' Protection Act of 2008 - Amends the federal bankruptcy code to eliminate the pre-petition credit counseling requirement for a debtor under chapter 13 (Adjustment of Debts of an Individual with Regular Income) who is facing foreclosure, if the debtor submits to the court a certification that the debtor has received notice that the holder of a…
What it does: CRS summary · Introduced in House · Dec 10, 2008
Homeowners' Protection Act of 2008 - Amends the federal bankruptcy code to eliminate the pre-petition credit counseling requirement for a debtor under chapter 13 (Adjustment of Debts of an Individual with Regular Income) who is facing foreclosure, if the debtor submits to the court a certification that the debtor has received notice that the holder of a claim secured by the debtor's principal residence may commence foreclosure.
Allows modification of the rights of claim holders, in the event of a foreclosure notice for a chapter 13 debtor, among other means by: (1) reducing a claim to equal the value of the debtor's interest in the residence securing such claim, and any adjustments to a related adjustable rate of interest; (2) waiving early repayment or prepayment penalties; and (3) extending the repayment period.
Denies debtor liability for certain fees and charges incurred while the bankruptcy case is pending and arising from a debt secured by the debtor's principal residence, unless the claim holder observes specified requirements.
Adds to conditions for court confirmation of a plan in bankruptcy that: (1) the holder of a claim secured by the debtor's principal residence retain the lien securing the claim until the later of the payment of such claim as reduced and modified or the discharge of a debtor from all debts; and (2) the plan modifies the claim in good faith.
Excludes from final discharge of a debtor from all debts: (1) any payments to claim holders whose rights are modified under this Act; and (2) any unpaid portion of a claim as reduced.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Homeowners' Protection Act of 2008
Latest action (Dec 10, 2008): Referred to the House Committee on the Judiciary.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Dec 10, 2008
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.