P.L. 111-22, The Helping Families Save Their Homes Act of 2009 (11 comments ↓ | 6 wiki edits: view article ↓)

  • This item is from the 111th Congress (2009-2010) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.

S. 896 would prevent mortgage foreclosures and enhance mortgage credit availability.

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More Bills on the House Floor This Week

Congress has plans to consider a number of bills beyond the ones in this week’s digest. Here are the substantive ones: S. 386 - Fraud Enforcement and Recovery Act of 2009 H.R. 2182 - Enhanced Oversight of State and Local Economic Recovery Act H.R...

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Jim C

April 30, 2009, 7:27pm (report abuse)

What is Congress doing making spinner legislation that accomplishes absolutely nothing? Where are the provisions that would do something to help people stay in their homes?

jay t.

May 20, 2009, 5:25pm (report abuse)

This is just absolutely ridiculous bill that does nothing to make people stay in their homes. Without principal reduction in any way, people will walk away from homes even if they could afford it. It's just plain as that! These banks got their bail out but not the average, hard working people! Even the Obama administration falls way short on their foreclosure prevention plan!

Paul F.

May 22, 2009, 7:15am (report abuse)

I agree, this ridiculous bill is a joke. It's business as usual on the Hill, give the money interests whatever they demand and to hell with the average hard working American. They've done absolutely NOTHING here to help anyone but the banks.

Rodger D

May 25, 2009, 10:15pm (report abuse)

I firmly believe that nobody has half a brain up at the capital. This new RENEWED H4H give me a break. OBAMA where is your change, grow some balls and stop pussyfooting around with the problem and fix it already.

Very simple FORCE THE BANKS that wish to continue doing business in the USA to PARTICIPATE in H4H or similar programs. ENOUGH with the VOLUNTARY option. NOTHING will ever get done.

$2500.00 incentive for the bank to do the loan. Is this a joke? West Palm Beach my house is 50% of its value since May 2006. 200K upside down! $2500.00 give me a break.


May 31, 2009, 4:05pm (report abuse)

Well, it allows renters to stay in their homes until the end of their leases even after the landlord has been foreclosed. That's a pretty big deal for lots of people who have been moved out by banks with very little notice.

Paul Hiller

June 2, 2009, 4:01pm (report abuse)

This bill is significant beause of the "safe harbor" provision for servicers. Up to now the servicers were hamstrung in doing mods because of contractural obligation with the investor. Now they are free to modify without that worry provided they stay within the guidelines of the bill.

Brett Moore

June 8, 2009, 5:46pm (report abuse)

I got notice of forcible detainer as a tenant on June 1st. Wells Fargo is kicking me out on the 22nd. They said that the actual foreclosure was on the 5th of May... too bad, so sad. This law is not retroactive, so I (100% disabled vet with 7 kids am out on my rear with 22 days notice. I've paid $39,600 in rent. Didn't these clowns (Wells Fargo) take $5 billion in bailout money. They won't even give me "cash for keys". What a joke!

B. A. Moore US Navy (retired)

Carlos Oxholm

July 6, 2009, 6:29pm (report abuse)

I am in the same situation as Brett Moore. My foreclosure was before the law went into effect. I faught the eviction citing the new law and lost. I am now appealing the decision. The way the bill was initially written it seamed to include ANY foreclosure regardless of it being before or after the law went into effect. The way the law was signed is vague. There is a pending bill (HR 1728) that changes the wording for the tenant portion and it could then be read to mean foreclosures that happened before the law was signed. There are many people watching what happens with my appeal (and the appeal that will follow this appeal) because this could set precedent.


July 20, 2009, 2:24pm (report abuse)

This bill is amazing for working class... renters who previously could be kicked out of their homes in 5 days or less now have 90 days or until the end of their lease so banks are paying movers to get out early or are giving renters sufficient time to find a new home.

Donna Cameron

September 4, 2009, 6:23am (report abuse)

This bill has nothing to do with helping people save thier homes. In fact if you are in financial trouble & have more than 20% equity in your home it will not stop the bank from foreclosing on your home. This bill only helps people without equity stay in thier home. This is crazy!

Mark Stevens

September 15, 2009, 12:31am (report abuse)

I agree that it's business as usual in Washington. We have NO ONE to blame but ourselves for voting these CROOKS into power. All they care about is stuffing their pockets at the cost of tax payers.

Leaving out the bankruptcy provision allows banks to just say no to any modifications. I have been trying for months and even hired an Attorney to help, nothing.

So my alternative is to walk away from my mortgage which is upside down by thousands. All I was asking them to do was modify with a lower interest, extend payment terms so I could keep our family home.

They take bailout money from us taxpayers and use it for everything but what it was intended to do. So once I walk away from my mortgage I will pack up my family and move to another country. No more of my taxpayer money for these CROOKS to use.

Just wonder how many more Americans will be fed up and leave this country.

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