s 183 49250 1202878800 false 1202965200 22 2636 21983 This is one of the leading Democratic proposal for addressing the housing crisis. It's main provision would allow bankruptcy judges to renegotiate the terms of home mortgages. This bill would also increase the number of tax-exempt mortgage revenue bonds available for refinancing subprime mortgages, provide community development money for fixing up foreclosed homes, tax breaks for businesses, and more. A new, bipartisan version of this bill has been drafted and considered by the Senate as an amendment to <a href="http://www.opencongress.org/bill/110-h3221/show">H.R.3221</a>. 110 300082

2/13/2008--Introduced.<br/>Foreclosure Prevention Act of 2008 - Amends the Internal Revenue Code to: (1) authorize use of the proceeds of a qualified mortgage bond issue to refinance a mortgage on a residence originally financed through a qualified subprime loan; (2) raise the ceiling and volume cap imposed upon certain state housing bonds; and (3) exclude from the meaning of tax preference item private activity bonds, for purposes of the alternative minimum tax, qualified mortgage bonds or veterans' mortgage bonds issued after enactment of this Act and before January 1, 2011. Makes FY2008 appropriations for: (1) emergency needs of states and local governmental units to redevelop certain abandoned and foreclosed homes; and (2) the Neighborhood Reinvestment Corporation for foreclosure mitigation activities, including grants for housing counseling. Helping Families Save Their Homes in Bankruptcy Act of 2008 - Authorizes a bankruptcy plan for individuals with regular income to: (1) modify an allowed secured claim secured by the debtor's principal residence if the debtor's income is insufficient to retain possession of the residence by curing a default and maintaining payments while the case is pending; (2) provide for payment of such claim for a period of up to 30 years; (3) set conditions for the addition of certain fees, costs, or charges to secured debt; and (4) waive any prepayment penalty on a claim secured by a debtor's principal residence. Waives the counseling requirement upon certification that a debtor's principal residence is scheduled for a foreclosure sale. Permits the debtor, in lieu of the trustee, to proceed as the real party in interest in certain state or federal actions respecting a claim or defense. Authorizes the bankruptcy court, in core proceedings involving an individual debtor with primarily consumer debts, to conduct the proceeding and enter orders and judgments in lieu of arbitration. Creates a principal residence homestead exemption for debtors over 55 years of age. Directs the bankruptcy court to disallow claims or interests subject to any remedy for damages or rescission due to noncompliance with state or federal consumer protection law, notwithstanding a prior foreclosure judgment. Mortgage Disclosure Improvement Act of 2008 - Amends the Truth in Lending Act to set forth additional disclosure requirements governing any extensions of credit (not only mortgages) secured by the dwelling of a consumer. Increases the actual damages for which a creditor is liable for noncompliance with such Act in the case of an individual action relating to a credit transaction not under an open end credit plan that is secured by real property or a dwelling. Replaces the current range of damages from $200 to $2,000 with a flat damages amount of $5,000, adjusted annually for inflation. Amends the Internal Revenue Code to: (1) set forth carryback rules for net operating losses for specified taxable years; and (2) suspend through taxable year 2008 the 90% of alternative minimum taxable income limit for certain adjustments to the alternative (minimum) tax net operating loss deduction.<br/>

1202965200 2008-02-14 Fri Nov 07 17:44:40 -0600 2008 introduced 49250 'act':3 '2008':5 'prevent':2 'foreclosur':1 57326 true short introduced 49250 'act':3 '2008':5 'prevent':2 'foreclosur':1 59683 false short introduced 49250 'bill':2 'hous':6 'need':5 'provid':4 'reform':7 57453 false official introduced 49250 'act':8 '2008':10 'help':1 'home':5 'save':3 'famili':2 'bankruptci':7 59684 false short introduced 49250 'act':4 '2008':6 'improv':3 'mortgag':1 'disclosur':2 59685 false short calendar 49250 1202965200 Thu Feb 14 00:00:00 -0600 2008 155994 Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 577. R000146 1939-12-02 22100 522 Hart Senate Office Building http://reid.senate.gov/contact/index.cfm 202-224-7327 Harry 'd':4 'nv':5 'sen':1 'reid':3,7,9 'harri':2,6,8 M 300082 Reid Harry_Reid M. Sen. Harry Reid [D, NV] 8161 N00009922 23240 Democrat 202-224-3542 Latter Day Saints NV Harry Reid 1.26315789473684 http://reid.senate.gov/ SenatorReid B000711 1940-11-11 16494 112 Hart Senate Office Building http://boxer.senate.gov/contact/email/policy.cfm 202-224-0454 Barbara 'd':4 'ca':5 'sen':1 'boxer':3,7,9 'barbara':2,6,8 F 300011 Boxer Barbara_Boxer Sen. Barbara Boxer [D, CA] 7966 N00006692 34606 Democrat 202-224-3553 Jewish CA Barbara Boxer 2.30322580645161 http://boxer.senate.gov SenatorBoxer B000944 1952-11-09 9035 713 Hart Senate Office Building http://brown.senate.gov/contact/ 202-228-6321 Sherrod 'd':4 'oh':5 'sen':1 'brown':3,7,9 'sherrod':2,6,8 M 400050 Brown Sherrod_Brown Sen. Sherrod Brown [D, OH] 5676 N00003535 16144 Democrat 202-224-2315 Lutheran OH Sherrod Brown 3.43373493975904 http://brown.senate.gov/ SherrodBrownOhio C000141 1943-10-05 3672 509 Hart Senate Office Building http://cardin.senate.gov/contact/email.cfm 202-224-1651 Benjamin 'd':4 'md':5 'sen':1 'cardin':3,7,9 'benjamin':2,6,8 M 400064 Cardin Benjamin_L._Cardin L. Sen. Benjamin Cardin [D, MD] 1709 N00001955 11375 Democrat 202-224-4524 Jewish MD Ben Benjamin Cardin 2.62790697674419 http://cardin.senate.gov/ SenatorCardin C001070 5988 393 Russell Senate Office Building http://casey.senate.gov/contact/ 202-228-0604 Robert 'd':4 'pa':5 'sen':1 'casey':3,7,9 'robert':2,6,8 M 412246 Casey Robert_P._Casey,_Jr. P. Sen. Robert Casey [D, PA] 2824 N00027503 13728 Democrat 202-224-6324 PA Bob Robert Casey 2.50877192982456 http://casey.senate.gov/ C001041 1947-10-26 38260 Hillary 'd':4 'ny':5 'sen':1 'clinton':3,7,9 'hillari':2,6,8 F 300022 Clinton Hillary_Clinton Rodham Sen. Hillary Clinton [D, NY] 14835 N00000019 27691 Democrat Methodist NY Hillary Clinton 3.38356164383562 D000388 1944-05-27 13148 448 Russell Senate Office Building http://dodd.senate.gov/index.php?q=node/3130 202-228-1083 Christopher 'd':4 'ct':5 'sen':1 'dodd':3,7,9 'christoph':2,6,8 M 300034 Dodd Christopher_Dodd J. Sen. Christopher Dodd [D, CT] 7652 N00000581 18510 Democrat 202-224-2823 Roman Catholic CT Chris Christopher Dodd 1.63565891472868 http://dodd.senate.gov SenChrisDodd D000563 1944-11-21 10017 309 Hart Senate Office Building http://durbin.senate.gov/contact.cfm 202-228-0400 Richard 'd':4 'il':5 'sen':1 'durbin':3,7,9 'richard':2,6,8 M 300038 Durbin Richard_Durbin J. Sen. Richard Durbin [D, IL] 5119 N00004981 20300 Democrat 202-224-2152 Roman Catholic IL Dick Richard Durbin 3.60810810810811 http://durbin.senate.gov F000062 1933-06-22 15447 331 Hart Senate Office Building http://feinstein.senate.gov/public/index.cfm?FuseAction=ContactUs.EmailMe 202-228-3954 Dianne 'd':4 'ca':5 'sen':1 'diann':2,6,8 'feinstein':3,7,9 F 300043 Feinstein Dianne_Feinstein Sen. Dianne Feinstein [D, CA] 8268 N00007364 23914 Democrat 202-224-3841 Jewish CA Dianne Feinstein 1.93436293436293 http://feinstein.senate.gov/public/ SenatorFeinstein H000206 1939-11-19 5054 731 Hart Senate Office Building http://harkin.senate.gov/c/index.cfm 202-224-9369 Thomas 'd':4 'ia':5 'sen':1 'tom':8 'thoma':2,6,9 'harkin':3,7,10 M 300051 Harkin Tom_Harkin Sen. Thomas Harkin [D, IA] 2563 Tom N00004207 11301 Democrat 202-224-3254 Roman Catholic IA Tom Thomas Harkin 2.39024390243902 http://harkin.senate.gov/ SenatorTomHarkin K000105 1932-02-22 12654 317 Russell Senate Office Building http://kennedy.senate.gov/senator/contact.cfm 202-224-2417 Edward 'd':4 'ma':5 'sen':1 'ted':8 'edward':2,6,9 'kennedi':3,7,10 M 300059 Kennedy Edward_Kennedy M. Sen. Edward Kennedy [D, MA] 7031 Ted N00000308 21716 Democrat 202-224-4543 Catholic MA Ted Edward Kennedy 3.57391304347826 http://kennedy.senate.gov/ K000148 1943-12-11 28453 218 Russell Senate Office Building http://kerry.senate.gov/contact/email.cfm 202-224-8525 John 'd':4 'ma':5 'sen':1 'john':2,6,8 'kerri':3,7,9 M 300060 Kerry John_Kerry Forbes Sen. John Kerry [D, MA] 13051 N00000245 17537 Democrat 202-224-2742 Roman Catholic MA John Kerry 2.17142857142857 http://kerry.senate.gov/ K000367 1960-05-25 7586 302 Hart Senate Office Building http://klobuchar.senate.gov/emailamy.cfm 202-228-2186 Amy 'd':4 'mn':5 'ami':2,6,8 'sen':1 'klobuchar':3,7,9 F 412242 Klobuchar Amy_Klobuchar Sen. Amy Klobuchar [D, MN] 4660 N00027500 13143 Democrat 202-224-3244 MN Amy Klobuchar 2.91025641025641 http://klobuchar.senate.gov/ L000123 1924-01-23 8192 324 Hart Senate Office Building http://lautenberg.senate.gov/contact/routing.cfm 202-228-4054 Frank 'd':4 'nj':5 'sen':1 'frank':2,6,8 'lautenberg':3,7,9 M 300064 Lautenberg Frank_Lautenberg R. Sen. Frank Lautenberg [D, NJ] 4382 N00000659 13679 Democrat 202-224-3224 Jewish NJ Frank Lautenberg 1.85714285714286 http://lautenberg.senate.gov/ franklautenberg L000304 1942-02-24 10695 706 Hart Senate Office Building http://lieberman.senate.gov/contact/ 202-224-9750 Joseph 'ct':5 'sen':1 'joseph':2,6,8 'lieberman':3,7,9 M 300067 Lieberman Joseph_Lieberman I. Sen. Joseph Lieberman [I, CT] 4570 N00000616 16002 Independent 202-224-4041 Jewish CT Joseph Lieberman 3.01652892561983 http://lieberman.senate.gov/ M000639 1954-01-01 5853 528 Hart Senate Office Building http://menendez.senate.gov/contact/ 202-228-2197 Robert 'd':4 'nj':5 'bob':8 'sen':1 'robert':2,6,9 'menendez':10 'menéndez':3,7 M 400272 Menéndez Robert_Menendez Sen. Robert Menéndez [D, NJ] 3010 Bob N00000699 16369 Democrat 202-224-4744 Roman Catholic NJ Robert Menendez 2.16326530612245 http://menendez.senate.gov/ SenatorMenendezNJ M000702 1936-07-20 6416 503 Hart Senate Office Building http://mikulski.senate.gov/Contact/contact.cfm 202-224-8858 Barbara 'd':4 'md':5 'sen':1 'barbara':2,6,8 'mikulski':3,7,9 F 300073 Mikulski Barbara_Mikulski A. Sen. Barbara Mikulski [D, MD] 2949 N00001945 11597 Democrat 202-224-4654 Roman Catholic MD Barbara Mikulski 2.29090909090909 http://mikulski.senate.gov/ M001111 1950-10-11 8645 173 Russell Senate Office Building http://murray.senate.gov/email/index.cfm 202-224-0238 Patty 'd':4 'wa':5 'sen':1 'patti':2,6,8 'murray':3,7,9 F 300076 Murray Patty_Murray Sen. Patty Murray [D, WA] 3915 N00007876 12831 Democrat 202-224-2621 Roman Catholic WA Patty Murray 3.68292682926829 http://murray.senate.gov/ N000032 1942-09-29 10202 716 Hart Senate Office Building http://billnelson.senate.gov/contact/index.cfm 202-228-2183 Bill 'd':4 'fl':5 'sen':1 'bill':2,6,8 'nelson':3,7,9 M 300078 Nelson Bill_Nelson Sen. Bill Nelson [D, FL] 4822 N00009926 21628 Democrat 202-224-5274 Presbyterian FL Bill Nelson 1.67164179104478 http://billnelson.senate.gov/ SenBillNelson O000167 1961-08-04 28998 Barack 'obama':2,4,6 'barack':1,3,5 M 400629 Obama Barack_Obama Barack Obama 8812 N00009638 56851 Democrat United Church of Christ Barack Obama 3.69512195121951 R000122 1949-11-12 3920 728 Hart Senate Office Building http://reed.senate.gov/contact/contact-share.cfm 202-224-4680 John 'd':4 'ri':5 'sen':1 'jack':8 'john':2,6,9 'reed':3,7,10 M 300081 Reed Jack_Reed F. Sen. John Reed [D, RI] 1344 Jack N00000362 10250 Democrat 202-224-4642 Roman Catholic RI Jack John Reed 2.45454545454545 http://reed.senate.gov/ R000361 1937-06-18 5933 531 Hart Senate Office Building http://rockefeller.senate.gov/contact/email.cfm 202-224-7665 John 'd':4 'wv':5 'jay':8 'sen':1 'john':2,6,9 'rockefel':3,7,10 M 300084 Rockefeller John_Rockefeller D. Sen. John Rockefeller [D, WV] 2110 Jay N00001685 11875 Democrat 202-224-6472 Presbyterian WV Jay John Rockefeller 0.964285714285714 http://rockefeller.senate.gov/ S001163 1955-03-02 4883 Ken 'd':4 'co':5 'ken':2,6,8 'sen':1 'salazar':3,7,9 M 400619 Salazar Ken_Salazar Sen. Ken Salazar [D, CO] 2385 N00026892 7995 Democrat CO Ken Salazar 2.15384615384615 SenatorSalazar S000148 1950-11-23 16565 313 Hart Senate Office Building http://schumer.senate.gov/new_website/contact.cfm 202-228-3027 Charles 'd':4 'ny':5 'sen':1 'charl':2,6,8 'schumer':3,7,9 M 300087 Schumer Charles_Schumer E. Sen. Charles Schumer [D, NY] 8305 N00001093 23585 Democrat 202-224-6542 Jewish NY Chuck Charles Schumer 2.01639344262295 http://schumer.senate.gov/ senatorschumer W000803 1946-02-09 11713 248 Russell Senate Office Building http://webb.senate.gov/contact/ 202-228-6363 Jim 'd':4 'va':5 'jim':2,6,8 'sen':1 'webb':3,7,9 M 412249 Webb James_Webb Sen. Jim Webb [D, VA] 4178 N00028058 16308 Democrat 202-224-4024 VA Jim Jim Webb 3.59375 http://webb.senate.gov/ SenatorWebb W000802 5753 502 Hart Senate Office Building http://whitehouse.senate.gov/contact/ 202-228-6362 Sheldon 'd':4 'ri':5 'sen':1 'sheldon':2,6,8 'whitehous':3,7,9 M 412247 Whitehouse Sheldon_Whitehouse Sen. Sheldon Whitehouse [D, RI] 2507 N00027533 10498 Democrat 202-224-2921 RI Sheldon Whitehouse 3.4 http://whitehouse.senate.gov/ SenatorWhitehouse calendar 49250 1202965200 Thu Feb 14 00:00:00 -0600 2008 155994 Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 577. introduced 49250 1202878800 Wed Feb 13 00:00:00 -0600 2008 145482 action 49250 1202878800 Wed Feb 13 00:00:00 -0600 2008 145483 Introduced in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.