Key Votes
HR 1106 - Mortgage Restructuring In Bankruptcy - Key Vote
National Key Votes
Ed Perlmutter voted Yea (Passage) on this legislation.
Read recent statements Ed Perlmutter made in this general time period.
Stages
Family
Issues
Stage Details
Legislation - Referred to Committee (Senate) - March 11, 2009
Legislation - Bill Passed (House) (234-191) - March 5, 2009 (Key vote)
Title: Mortgage Restructuring In Bankruptcy
Vote to pass a bill that grants bankruptcy judges expanded powers to alter the terms of mortgages on primary residences.
- Grants bankruptcy court judges the authority to reduce interest rates or extend the repayment period up to 40 years for mortgages (Sec. 103).
- Requires homeowners who receive assistance under this act and sell their home within the first year for a profit to pay their lender up to 90 percent of the difference between the sales price and the amount due under their original mortgage (Sec. 103).
- Prohibits aid to homeowners who are able to meet their original or modified mortgage payments without assistance or who obtained credit through actual fraud (Sec. 105).
- Amends standards for participation in the HOPE for Homeowners Program by excluding borrowers who intentionally defaulted on their mortgage, who have been convicted of fraud or those who earn more than $1 million (Sec. 202).
- Raises FDIC depositor insurance to permanently cover $250,000 instead of $100,000 of each deposit at participating institutions (Sec. 204).
- Establishes a Nationwide Mortgage Fraud Task Force to investigate mortgage fraud in and aid enforcement of mortgage fraud laws (Sec. 302).
Legislation - Introduced (House) - Feb. 23, 2009
Title: Mortgage Restructuring In Bankruptcy
Sponsors
Co-sponsors
- Joe Baca Sr. (CA - D) (Out Of Office)
- Howard L. Berman (CA - D) (Out Of Office)
- Earl Blumenauer (OR - D)
- Lois Capps (CA - D)
- Stephen Ira 'Steve' Cohen (TN - D)
- William D. 'Bill' Delahunt (MA - D) (Out Of Office)
- Donna F. Edwards (MD - D)
- Keith M. Ellison (MN - D)
- Barney Frank (MA - D) (Out Of Office)
- Charles A. 'Charlie' Gonzalez (TX - D) (Out Of Office)
- Luis V. Gutierrez (IL - D)
- Sheila Jackson Lee (TX - D)
- Henry C. 'Hank' Johnson Jr. (GA - D)
- Sander M. 'Sandy' Levin (MI - D)
- John R. Lewis (GA - D)
- Zoe Lofgren (CA - D)
- James 'Jim' Marshall (GA - D) (Out Of Office)
- Ralph Bradley 'Brad' Miller (NC - D) (Out Of Office)
- Jerrold L. 'Jerry' Nadler (NY - D)
- Linda T. Sánchez (CA - D)
- Robert C. 'Bobby' Scott (VA - D)
- Michael R. 'Mike' Turner (OH - R)
- Debbie Wasserman Schultz (FL - D)
- Maxine Waters (CA - D)
