September 29, 2007
Legislation Introduced to Help Homeowners Facing Foreclosure
On September 20, 2007, a bill was introduced in the House of Representatives to help homeowners facing foreclosure - "The Emergency Home Ownership and Mortgage Equity Protection Act of 2007." H.R. 3609. It is fairly short but it removes the requirement that homeowners facing foreclosure get consumer counseling before filing a chapter 13. It also removes the restriction on modifying a loan secured by the debtor's residence. This should certainly put a smile on the faces of consumer bankruptcy attorneys everywhere.
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