H.R.830 - FHA Refinance Program Termination Act

To rescind the unobligated funding for the FHA Refinance Program and to terminate the program. view all titles (4)

All Bill Titles

  • Official: To rescind the unobligated funding for the FHA Refinance Program and to terminate the program. as introduced.
  • Short: FHA Refinance Program Termination Act as introduced.
  • Short: FHA Refinance Program Termination Act as reported to house.
  • Short: FHA Refinance Program Termination Act as passed house.

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Introduced
 
House
Passed
 
Senate
Passes
 
President
Signs
 

 
02/28/11
 
03/10/11
 
 
 
 
 

 

Latest Vote

Result: Passed - March 10, 2011

Roll call number 171 in the House

Question: On Passage: H R 830 FHA Refinance Program Termination Act

 

Official Summary

FHA Refinance Program Termination Act - Rescinds and permanently cancels all unexpended funding remaining available and allocated for the Federal Housing Administration (FHA) Refinancing Program of the Making Home Affordable initiative of the Secretary of the Treasury (under which borrowers

Official Summary

FHA Refinance Program Termination Act - Rescinds and permanently cancels all unexpended funding remaining available and allocated for the Federal Housing Administration (FHA) Refinancing Program of the Making Home Affordable initiative of the Secretary of the Treasury (under which borrowers owing more on their mortgage than the value of their home are provided opportunities to refinance into a FHA loan). Terminates the program. Requires all such unobligated balances so rescinded and permanently canceled to be retained in the general fund of the Treasury for reducing the debt of the federal government. Directs the Secretary of Housing and Urban Development (HUD) to study:
(1) the extent to which the FHA Refinancing Program is used by homeowners who are active duty members of the Armed Forces (or their spouses or parents), veterans, Gold Star-eligible widows, parents, or next of kin of Armed Forces members who died in military operations, or members or veterans with service-connected injuries (and their survivors and dependents); and
(2) the impact of the program on such homeowners. Directs the HUD Secretary to publish a statement on the HUD website as to:
(1) termination of the FHA Short [sic] Refinance Program; and
(2) the availability of a Member of Congress to assist any borrower having trouble paying a mortgage and needing help contacting the borrower's lender or servicer to negotiate or acquire a loan modification.

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Organizations Supporting H.R.830

  • Freedom Works

Organizations Opposing H.R.830

  • None via MapLight at this time.




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