H.R. 6076: Home Retention and Economic Stabilization Act of 2008

Description:

The Home Retention and Economic Stabilization Act of 2008 would defer foreclosure for eligible mortgage borrowers for up to 270 days. If passed, the bill would give extra time to some borrowers and lenders to consider alternatives to foreclosure, including traditional loss mitigation and participation in the new Federal Housing Administration (FHA) program for refinancing troubled loans. Some policymakers believe that a moratorium on foreclosures could help stabilize housing markets and alleviate problems from the subprime financial turmoil. This report explores this issue in detail and analyzes the individual aspects of the relevant legislation.

Creator(s):
Creation Date: August 29, 2008
Partner(s):
UNT Libraries Government Documents Department
Collection(s):
Congressional Research Service Reports
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Place of Publication: Washington, D.C.
Date(s):
  • Creation: August 29, 2008
  • : September 8, 2008
Description:

The Home Retention and Economic Stabilization Act of 2008 would defer foreclosure for eligible mortgage borrowers for up to 270 days. If passed, the bill would give extra time to some borrowers and lenders to consider alternatives to foreclosure, including traditional loss mitigation and participation in the new Federal Housing Administration (FHA) program for refinancing troubled loans. Some policymakers believe that a moratorium on foreclosures could help stabilize housing markets and alleviate problems from the subprime financial turmoil. This report explores this issue in detail and analyzes the individual aspects of the relevant legislation.

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Partner:
UNT Libraries Government Documents Department
Collection:
Congressional Research Service Reports
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Resource Type: Report
Format: Text