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United States · Bill · HR

H.R. 225 (111th)

Emergency Homeownership and Equity Protection Act

openUnited States· United States Congress· EN

Introduced

7 January 2009

Last action

22 January 2009 · Committee

Status

Committee Hearings Held.

Sponsors

Rep. Miller, Brad [D-NC-13], Rep. Sánchez, Linda T. [D-CA-38], Rep. Frank, Barney [D-MA-4], Rep. Watt, Melvin L. [D-NC-12], Rep. Ellison, Keith [D-MN-5], Rep. Lee, Barbara [D-CA-12], Rep. Courtney, Joe [D-CT-2], Rep. Blumenauer, Earl [D-OR-3], Del. Christensen, Donna M. [D-VI-At Large], Rep. Johnson, Eddie Bernice [D-TX-30], Rep. Butterfield, G. K. [D-NC-1], Rep. Grijalva, Raúl M. [D-AZ-7], Rep. Jackson Lee, Sheila [D-TX-18], Rep. Sires, Albio [D-NJ-13], Rep. Capuano, Michael E. [D-MA-8], Rep. Hinchey, Maurice D. [D-NY-22], Rep. Miller, George [D-CA-11], Rep. Stark, Fortney Pete [D-CA-13], Rep. Johnson, Henry C. "Hank" [D-GA-4], Rep. Davis, Artur [D-AL-7], Sen. Van Hollen, Chris [D-MD], Rep. Wasserman Schultz, Debbie [D-FL-25], Rep. Cohen, Steve [D-TN-9], Rep. Edwards, Donna F. [D-MD-4], Rep. Lewis, John [D-GA-5], Rep. Dingell, John D. [D-MI-12], Rep. Sanchez, Loretta [D-CA-46], Rep. Grayson, Alan [D-FL-9], Rep. Roybal-Allard, Lucille [D-CA-40], Rep. Waters, Maxine [D-CA-43], Rep. Filner, Bob [D-CA-51], Rep. Schakowsky, Janice D. [D-IL-9], Rep. Moran, James P. [D-VA-8], Rep. Cummings, Elijah E. [D-MD-7], Rep. Sutton, Betty [D-OH-13], Rep. Kildee, Dale E. [D-MI-5], Rep. Turner, Michael R. [R-OH-10], Rep. Farr, Sam [D-CA-20], Rep. Shea-Porter, Carol [D-NH-1], Rep. Sarbanes, John P. [D-MD-3], Rep. Carnahan, Russ [D-MO-3], Rep. McCollum, Betty [D-MN-4], Rep. Green, Gene [D-TX-29], Rep. Tierney, John F. [D-MA-6], Sen. Peters, Gary C. [D-MI]

Subjects

Discovery layer

Source updated

6 December 2025

Official sourceDownload fileView documentsShare

Summary

Emergency Homeownership and Equity Protection Act - Amends federal bankruptcy law governing a Chapter 13 debtor (adjustment of debts of an individual with regular income). Excludes from computation of debts the secured or unsecured portions of: (1) debts secured by the debtor's principal residence if the current value of that residence is less than the secured debt limit; or (2) debts secured or formerly secured by debtor's principal residence that was either sold in foreclosure or surrendered to the creditor if the current value of such real property is less than the secured debt limit. Declares the credit counseling requirement inapplicable to a Chapter 13 debtor who certifies that he or she has received notice that the holder of a claim secured by the debtor's principal residence may commence a foreclosure on the debtor's principal residence. 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.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 7 January 2009

    Introduced

    Referred to the House Committee on the Judiciary.

    Source: IntroReferral

  2. 7 January 2009

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 7 January 2009

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 22 January 2009

    Committee

    Committee Hearings Held.

    Source: Committee

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 7 January 2009

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  • Introduced in House (PDF)

    Introduced in House · EN · 7 January 2009

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  • Introduced in House

    summary · EN · 7 January 2009

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Sponsors

Related records

Sources

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