United States · Amendment · HAMDT

HAMDT 24 (111th)

An amendment numbered 1 printed in House Report 111-21 and modified in House Report 111-23 to allow a court to consider, lowering the interest rate to reduce the debtor's mortgage payments according to the Administration's Homeowner Affordability and Stability Plan as implemented March 4, 2009; give the mortgage holder a greater proportion of the appreciation in a home on a graduated basis if it is sold during the 5-year period that the case is pending; and provide that when a debtor seeks to reduce a mortgage's principal, the court must determine wheter such relief is in good faith based on whether debtor was offered a mortgage modification under the Administration's plan and the debtor was able to afford payments under such plan.