3.0.0 5396 2023-01-11T13:25:41Z 2023-01-11T13:25:41Z House H HR 2014-08-01 113 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Ms. MICHELLE LUJAN GRISHAM of New Mexico:H.R. 5396.Congress has the power to enact this legislation pursuantto the following:This bill is enacted pursuant to the power granted toCongress under Article I, Section 8, Clause 3 of the UnitedStates Constitution.[Page H7241]]]> hsba00 Financial Services Committee House Standing Referred to 2014-08-01T14:01:15Z 2014-08-01 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2014-08-01 Introduced in House IntroReferral Intro-H 9 Library of Congress 2014-08-01 Introduced in House IntroReferral 1000 9 Library of Congress L000580 Rep. Lujan Grisham, Michelle [D-NM-1] Michelle Lujan Grisham D NM 1 N Housing and Community Development Consumer affairs Housing finance and home ownership Real estate business Housing and Community Development 00 2014-08-01 Introduced in House 2014-09-09T16:47:34Z Keeping Families Home Act of 2014 - 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 2014 Display Title Keeping Families Home Act of 2014 Official Title as Introduced To require servicers to establish a deed-for-lease program under which eligible mortgagors may remain in their homes as renters. Introduced in House IH Short Titles as Introduced Keeping Families Home Act of 2014 Introduced in House 2014-08-01T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-113hr5396ih/xml/BILLS-113hr5396ih.xml 2014-08-01 Referred to the House Committee on Financial Services. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.