s 9 46537 1191384000 false 1207195200 2133 1162 110 300092

10/3/2007--Introduced.<br/>Home Owners' Mortgage and Equity Savings Act, or the HOMES Act - Amends federal bankruptcy law governing mortgage loans to authorize modification of a mortgage agreed to in writing by a debtor meeting specified requirements and the holder of a claim secured by an interest in real property initiated before September 26, 2007, that is the debtor's principal residence. Allows the principal amount of such a mortgage loan to be lowered to the fair market value, if less than such amount, of the real property securing the loan at the time of the submission of the debtor's plan for the payment of debts. Permits waiver of otherwise applicable early repayment or prepayment penalties. Permits, also, prohibition of, delay in, or voiding of any adjustments to the rate of interest in the case of an adjustable rate mortgage. Permits the bankruptcy court, in the case of a chapter 13 debtor (individual with regular income), to consider certain interest, late fees, or other fees to be a voidable transfer if the court finds there was a substantial failure to disclose material terms regarding such interest or fees related to a mortgage claim. Authorizes delay of the prerequisite that debtor obtain counseling from an approved credit counseling agency before filing the petition in bankruptcy, if the debtor submits to the court a certification that the holder of a claim secured by the debtor's principal residence has initiated foreclosure on that residence. Directs the Comptroller General to study and report to Congress on the impact of allowing bankruptcy judges to restructure principal residence mortgages on the secondary market for mortgages.<br/>

1191470400 2007-10-04 Fri Nov 07 16:46:19 -0600 2008 introduced 46537 'act':7 'home':1 'save':6 'owner':2 'equiti':5 'mortgag':3 57507 false short introduced 46537 'act':7 'home':1 'save':6 'owner':2 'equiti':5 'mortgag':3 53470 false short introduced 46537 'act':2 'home':1 53471 false short introduced 46537 'bill':2 'loan':15 'take':8 'court':6 'action':10 'author':4 'purpos':21 'certain':9 'mortgag':14 'respect':12 'bankruptci':5,17 52623 false official action 46537 1207195200 Thu Apr 03 00:00:00 -0500 2008 148488 Committee on the Judiciary. Date of scheduled consideration. SD-226. 10:00 a.m. S000709 1930-02-12 13782 711 Hart Senate Office Building http://specter.senate.gov/public/index.cfm?FuseAction=Contact.ContactForm 202-228-1229 Arlen 'd':4 'pa':5 'sen':1 'arlen':2,6,8 'specter':3,7,9 M 300092 Specter Arlen_Specter Sen. Arlen Specter [D, PA] 5980 N00001604 19396 Democrat 202-224-4254 Jewish PA Arlen Specter 1.8671875 http://specter.senate.gov/ C001057 1949-08-17 9617 Norm 'norm':1,3,5 'coleman':2,4,6 M 300024 Coleman Norm_Coleman Norm Coleman 3923 N00013870 8503 Republican Jewish Norm Coleman 2.8 S000663 1947-02-21 8799 154 Russell Senate Office Building http://snowe.senate.gov/webform.htm 202-224-1946 Olympia 'r':4 'sen':1 'snow':3,7,9 'olympia':2,6,8 F 300091 Snowe Olympia_Snowe J. Sen. Olympia Snowe [R, ME] 3547 N00000480 16039 Republican 202-224-5344 Greek Orthodox ME Olympia Snowe 2.5546218487395 http://snowe.senate.gov/ action 46537 1207195200 Thu Apr 03 00:00:00 -0500 2008 148488 Committee on the Judiciary. Date of scheduled consideration. SD-226. 10:00 a.m. action 46537 1204779600 Thu Mar 06 00:00:00 -0600 2008 146681 Committee on the Judiciary. Date of scheduled consideration. SD-226. 10:00 a.m. action 46537 1202965200 Thu Feb 14 00:00:00 -0600 2008 145450 Committee on the Judiciary. Date of scheduled consideration. SD-226. 10:00 a.m. action 46537 1191470400 Thu Oct 04 00:00:00 -0500 2007 133986 Sponsor introductory remarks on measure. (CR S12763-12764) action 46537 1191384000 Wed Oct 03 00:00:00 -0500 2007 131471 Read twice and referred to the Committee on the Judiciary. action 46537 1191384000 Wed Oct 03 00:00:00 -0500 2007 131470 Sponsor introductory remarks on measure. (CR S12533-12535) introduced 46537 1191384000 Wed Oct 03 00:00:00 -0500 2007 131469