Wednesday, February 25, 2009

Action by House Rules Committee on H.R. 1106

The House Rules Committee's website indicates that today at 12:00 p.m. was the deadline for amendments to H.R. 1106 the "Helping Families Save Their Homes Act of 2009" to be submitted. H.R. 1106 includes provisions that will allow certain principal residence mortgage modification in Chapter 13 bankruptcy. The Committee's website lists the numerous proposed amendments that were submitted by the various Congressmen. The Rules Committee was set to meet today at 4:00 p.m.

One interesting proposed amendment by Congress John
Conyers of Michigan would require the Bankruptcy Court to use FHA appraisal guidelines for property analysis where the fair market value of a home is in dispute.

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