Helping Families Save Their Homes in Bankruptcy Act of 2008

Summary

Helping Families Save Their Homes in Bankruptcy Act of 2007 - Amends federal bankruptcy law to permit a bankruptcy plan to: (1) modify a loan secured by the principal residence (mortgage) of a chapter 13 debtor (individual with regular income); and (2) provide for payment of such loan at a fixed annual percentage rate of interest, over a 30-year period. Exempts a chapter 13 debtor from the requirement for credit counseling if the court receives certification that debtor's principal residence has been scheduled for a foreclosure sale. Conditions any fees, costs, or charges that may be added to the mortgage debt during pendency of the bankruptcy case upon notice to the court within a specified deadline. Requires the court to waive such additional fees, costs, or charges if the court has not been notified on time. Permits a bankruptcy plan to provide for waiver of any prepayment penalty contained on a claim secured by debtor's principal residence. Authorizes the trustee in bankruptcy to request joinder or substitution for the debtor as the real party in interest in any action in state or federal court with respect to a claim or defense asserted by an individual debtor that was not scheduled in the debtor's petition. Permits the debtor to proceed as the real party in interest if the trustee does not make such a request. Amends the judicial code to authorize the court in any core proceeding under bankruptcy law to hear and determine a proceeding in lieu of referral to arbitration if the case involves an individual debtor whose debts are primarily consumer debts. Exempts from the estate in bankruptcy up to $75,000 of the debtor's aggregate interest in real property used as debtor's principal residence if the debtor is age 55 or older. Prohibits the court from allowing a claim that is subject to any remedy for damages or rescission due to failure to comply with the Truth in Lending Act or any other state or federal consumer protection law.

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

Timeline

1. 3 October 2007

   Introduced

   Read twice and referred to the Committee on the Judiciary. (text of measure as introduced: CR S12537-12538)

   Source: IntroReferral

2. 3 October 2007

   Introduced

   Sponsor introductory remarks on measure. (CR S12536-12537)

   Source: IntroReferral

3. 3 October 2007

   Introduced

   Introduced in Senate

   Source: IntroReferral

4. 5 December 2007

   Committee

   Committee on the Judiciary. Hearings held.

   Source: Committee

5. 3 April 2008

   Reported

   Committee on the Judiciary. Ordered to be reported with an amendment favorably.

   Source: Committee

6. 29 July 2008

   Calendars

   Placed on Senate Legislative Calendar under General Orders. Calendar No. 911.

   Source: Calendars

7. 29 July 2008

   Reported

   Committee on the Judiciary. Reported by Senator Leahy with an amendment in the nature of a substitute. Without written report.

   Source: Committee

8. 29 July 2008

   Reported

   Committee on the Judiciary. Reported by Senator Leahy with an amendment in the nature of a substitute. Without written report.

   Source: Committee

9. 26 September 2008

   Floor

   By Senator Leahy from Committee on the Judiciary filed written report. Report No. 110-514. Minority views filed.

   Source: Floor

10. 26 September 2008

    Committee

    By Senator Leahy from Committee on the Judiciary filed written report. Report No. 110-514. Minority views filed.

    Source: Committee

11. 19 November 2008

    Committee

    Committee on the Judiciary. Hearings held.

    Source: Committee

Votes

No vote records are attached yet.

Versions

• Reported to Senate · 29 July 2008 · Download file
• Introduced in Senate · 3 October 2007 · Download file

Documents

6 official files

• Reported to Senate (text)

  Reported to Senate · EN · 29 July 2008

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• Reported to Senate (PDF)

  Reported to Senate · EN · 29 July 2008

  ViewDownloadOpen at official source

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  Vertaal document

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• Reported to Senate with amendment(s)

  summary · EN · 29 July 2008

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  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

• Introduced in Senate (text)

  Introduced in Senate · EN · 3 October 2007

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  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 3 October 2007

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  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

• Introduced in Senate

  summary · EN · 3 October 2007

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Durbin, Richard J. [D-IL] · D · Sponsor
• Sen. Schumer, Charles E. [D-NY] · D · Sponsor
• Sen. Dodd, Christopher J. [D-CT] · D · Cosponsor
• Sen. Obama, Barack [D-IL] · D · Cosponsor
• Sen. Whitehouse, Sheldon [D-RI] · D · Cosponsor
• Sen. Brown, Sherrod [D-OH] · D · Cosponsor
• Sen. Menendez, Robert [D-NJ] · D · Cosponsor
• Sen. Biden, Joseph R., Jr. [D-DE] · D · Cosponsor
• Sen. Harkin, Tom [D-IA] · D · Cosponsor
• Sen. Reed, Jack [D-RI] · D · Cosponsor
• Sen. Boxer, Barbara [D-CA] · D · Cosponsor
• Sen. Clinton, Hillary Rodham [D-NY] · D · Cosponsor
• Sen. Feinstein, Dianne [D-CA] · D · Cosponsor
• Sen. Kerry, John F. [D-MA] · D · Cosponsor
• · ssju00 · Standing

Related records

• related to ← Foreclosure Prevention Act of 2008