Foreclosure Prevention and Homeownership Protection Act

Summary

Foreclosure Prevention and Homeownership Protection Act - Establishes the Commission to Preserve the American Dream (Commission) to study and report to Congress and the President on: (1) the adequacy of the existing legal and regulatory framework to address the current foreclosure and mortgage lending crisis and to prevent similar crises from happening in the future; (2) the role of the states versus the role of the federal government in ensuring homeowners are protected against unscrupulous lending practices; and (3) the effects of this crisis on the domestic and world economies. Requires the Commission to make recommendations regarding: (1) ways to assist homeowners currently in danger of losing their homes; (2) ways to encourage lenders and borrowers to work together to prevent foreclosure; and (3) legislative and regulatory changes to protect homeowners against unscrupulous lending practices and strengthen accountability for those involved in the mortgage lending market.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 25 September 2007

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• Introduced in House (PDF)

  Introduced in House · EN · 25 September 2007

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• Introduced in House

  summary · EN · 25 September 2007

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