US Congress House Bill 1878 (Prior Session Legislation)

---

Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on April 16 2015 - 25% progression, died in committee
Action: 2015-04-16 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]

Keeping Families Home Act of 2015 Directs each mortgage servicer to establish a deed-for-lease program which shall permit an eligible mortgagor to: enter into a deed in lieu of foreclosure agreement; continue to occupy and lease the property that is the subject of the agreement for one year; and have a right of first refusal to purchase such property after the end of the one-year lease period, if the owner intends to sell the property at that time. Exempts small servicers from such requirement. Requires a lease to carry a monthly rent amount equal to the fair market rent for the property, as determined by an independent private appraiser hired by and paid by the servicer.

Keeping Families Home Act of 2015

Rep. Michelle Lujan Grisham [D-NM]

Date	Chamber	Action
2015-04-16	House	Referred to the House Committee on Financial Services.
2015-04-16	House	Introduced in House

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/house-bill/1878/all-info
Text	https://www.congress.gov/114/bills/hr1878/BILLS-114hr1878ih.pdf