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

Murphy, Edward Vincent

Library of Congress. Congressional Research Service.

关键词: Economic policy;    Economic stabilization;    Foreclosure;    Mortgage loans;    Housing;   

RP-ID  :  RS22943
RP-ID  :  RS22943_2008Aug29

美国|英语

来源: UNT Digital Library

【 摘 要 】

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.