H.R.839 - The HAMP Termination Act of 2011

To amend the Emergency Economic Stabilization Act of 2008 to terminate the authority of the Secretary of the Treasury to provide new assistance under the Home Affordable Modification Program, while preserving assistance to homeowners who were already extended an offer to participate in the Program, either on a trial or permanent basis. view all titles (5)

All Bill Titles

  • Official: To amend the Emergency Economic Stabilization Act of 2008 to terminate the authority of the Secretary of the Treasury to provide new assistance under the Home Affordable Modification Program, while preserving assistance to homeowners who were already extended an offer to participate in the Program, either on a trial or permanent basis. as introduced.
  • Short: The HAMP Termination Act of 2011 as introduced.
  • Short: HAMP Termination Act of 2011 as introduced.
  • Short: HAMP Termination Act of 2011 as reported to house.
  • Short: HAMP Termination Act of 2011 as passed house.

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Introduced
 
House
Passed
 
Senate
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President
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02/28/11
 
03/29/11
 
 
 
 
 

 

Latest Vote

Result: Passed - March 29, 2011

Roll call number 198 in the House

Question: On Passage: H R 839 The HAMP Termination Act of 2011

 

Official Summary

HAMP Termination Act of 2011 - Amends the Emergency Economic Stabilization Act of 2008 (EESA) to terminate the authority of the Secretary of the Treasury to provide new mortgage modification assistance under the Home Affordable Modification Program (HAMP), except with respect to existing ob

Official Summary

HAMP Termination Act of 2011 - Amends the Emergency Economic Stabilization Act of 2008 (EESA) to terminate the authority of the Secretary of the Treasury to provide new mortgage modification assistance under the Home Affordable Modification Program (HAMP), except with respect to existing obligations on behalf of homeowners already extended an offer to participate in the program. Declares unavailable after the enactment of this Act for obligation or expenditure under HAMP any amounts made available for HAMP under EESA title I that:
(1) have been allocated for use but not yet obligated, and
(2) are not necessary for providing HAMP assistance on behalf of those homeowners already extended an offer to participate in HAMP. Urges that such amounts be covered into the General Fund of the Treasury for use only in reducing the budget deficit of the federal government. Directs the Secretary to study:
(1) the extent to which HAMP is used by homeowners who are active duty members of the Armed Forces (or their spouses or parents), veterans, or Gold Star-eligible widows, parents, or next of kin of Armed Forces members who died in military operations; and
(2) the impact of the program on them. Requires the Secretary to publish on the departmental website a statement as to:
(1) termination of HAMP; 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. Requires the Secretary to give notice of this information to each individual who applied for HAMP and will not be considered for a mortgage modification because of the program's termination. Declares that Congress encourages banks to work with homeowners to:
(1) provide loan modifications to those that are eligible, and
(2) assist them as well as prospective homeowners with foreclosure prevention programs and information on loan modifications.

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Organizations Supporting H.R.839

  • National Taxpayers Union
  • National Council of La Raza
  • Americans for Tax Reform
  • Family Research Council

Organizations Opposing H.R.839

  • National League of Cities
  • National Association of Counties
  • New York City Department of Housing Preservation and Development
  • Regional Home Ownership Preservation Initiative
  • Housing Action Illinois
  • Metropolitan Planning Council
  • ...and 22 more. See all.




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