H.R. 5396 · 113th Congress
Keeping Families Home Act of 2014
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Never voted on. It didn't reach a floor vote before the 113th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
Lujan GrishamSponsorNo cosponsors.
Keeping Families Home Act of 2014 - Directs each mortgage servicer to establish a deed-for-lease program which shall permit an eligible mortgagor to:
What it does: CRS summary · Introduced in House · Aug 1, 2014
Keeping Families Home Act of 2014 - Directs each mortgage servicer to establish a deed-for-lease program which shall permit an eligible mortgagor to:
- enter into a deed in lieu of foreclosure agreement;
- continue to occupy and lease the property that is the subject of the agreement for one year; and
- have a right of first refusal to purchase such property after the end of the one-year lease period, if the owner intends to sell the property at that time.
Exempts small servicers from such requirement.
Requires a lease to carry a monthly rent amount equal to the fair market rent for the property, as determined by an independent private appraiser hired by and paid by the servicer.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Keeping Families Home Act of 2014
Latest action (Aug 1, 2014): Referred to the House Committee on Financial Services.
Policy area: Housing and Community Development · Origin: House · Introduced: Aug 1, 2014
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.