H.R. 2394 would establish the Family Foreclosure Rescue Corporation to provide emergency relief to refinance home mortgages of homeowners in foreclosure or default.
Detailed Summary
Family Foreclosure Rescue Corporation Act - Instructs the Secretary of the Treasury to establish the Family Foreclosure Rescue Corporation to acquire, via the sale of bonds, home mortgages and other obligations and liens secured by real estate which are currently in default or at foreseeable risk of default.
Status of the Legislation
Latest Major Action: 5/13/2009: Referred to House committee. Status: Referred to the Committee on Financial Services, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Points in Favor
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Points Against
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