s 106 53461 1231218000 false 1231218000 1 61 7254 111 300038

1/6/2009--Introduced.Helping Families Save their Homes in Bankruptcy Act of 2009 - Amends federal bankruptcy law governing a Chapter 13 debtor (adjustment of debts of an individual with regular income). Excludes from computation of debts the secured or unsecured portions of: (1) debts secured by the debtor's principal residence if the current value of that residence is less than the secured debt limit; or (2) debts secured or formerly secured by debtor's principal residence that was either sold in foreclosure or surrendered to the creditor if the current value of such real property is less than the secured debt limit. Declares the credit counseling requirement inapplicable to a Chapter 13 debtor who certifies that he or she has received notice that the holder of a claim secured by the debtor's principal residence may commence a foreclosure on the debtor's principal residence. Requires the court to disallow a claim that is subject to any remedy for damages or rescission due to violations of state or federal consumer protection law, including the Truth in Lending Act, notwithstanding the prior entry of a foreclosure judgment. Allows modification of the rights of claim holders, in the event of a foreclosure notice for a chapter 13 debtor, among other means by: (1) reducing a claim to equal the value of the debtor's interest in the residence securing such claim, and any adjustments to a related adjustable rate of interest; (2) waiving early repayment or prepayment penalties; and (3) extending the repayment period. Denies debtor liability for certain fees and charges incurred while the bankruptcy case is pending and arising from a debt secured by the debtor's principal residence, unless the claim holder observes specified requirements. Adds to conditions for court confirmation of a plan in bankruptcy that: (1) the holder of a claim secured by the debtor's principal residence retain the lien securing the claim until the later of the payment of such claim as reduced and modified or the discharge of a debtor from all debts; and (2) the plan modifies the claim in good faith. Excludes from final discharge of a debtor from all debts: (1) any payments to claim holders whose rights are modified under this Act; and (2) any unpaid portion of a claim as reduced.

1231218000 2009-01-06 Wed Jan 06 05:47:14 -0600 2010 introduced 53461 '11':6 'bill':2 'code':11 'titl':5 'unit':9 'amend':4 'modif':15 'resid':21 'state':10 'purpos':25 'certain':17 'mortgag':18 'princip':20 'respect':13 65961 false official introduced 53461 'act':8 '2009':10 'help':1 'home':5 'save':3 'famili':2 'bankruptci':7 66521 false short action 53461 1231218000 Tue Jan 06 00:00:00 -0600 2009 179298 Read twice and referred to the Committee on the Judiciary. D000563 1944-11-21 10035 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] 5122 N00004981 20321 Democrat 202-224-2152 Roman Catholic IL Dick Richard Durbin 3.60810810810811 http://durbin.senate.gov action 53461 1231218000 Tue Jan 06 00:00:00 -0600 2009 179298 Read twice and referred to the Committee on the Judiciary. action 53461 1231218000 Tue Jan 06 00:00:00 -0600 2009 179430 Sponsor introductory remarks on measure. (CR S64-66) introduced 53461 1231218000 Tue Jan 06 00:00:00 -0600 2009 179297