summary
Introduced
In Committee
Crossed Over
Passed
Dead
Introduced Session
112th Congress
Bill Summary
HAMP Termination Act of 2011 - Amends the Emergency Economic Stabilization Act of 2008 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.
AI Summary
This bill, known as the HAMP Termination Act of 2011, amends the Emergency Economic Stabilization Act of 2008 to end the Secretary of the Treasury's ability to offer new mortgage modification assistance through the Home Affordable Modification Program (HAMP), which was part of the Making Home Affordable initiative designed to help struggling homeowners. However, the bill includes an exception to protect homeowners who had already received an offer to join HAMP, either for a trial period or permanently, ensuring they can still receive the assistance they were promised.
Committee Categories
Housing and Urban Affairs
Sponsors (4)
Last Action
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 03/09/2011)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/112th-congress/senate-bill/527/all-info |
| BillText | http://gpo.gov/fdsys/pkg/BILLS-112s527is/pdf/BILLS-112s527is.pdf |
| Bill | http://gpo.gov/fdsys/pkg/BILLS-112s527is/pdf/BILLS-112s527is.pdf.pdf |
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