Keeping Families Home Act of 2014
Latest action · Aug 1, 2014 Referred to the House Committee on Financial Services.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedAug 1, 2014
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
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.
Cosponsors
Members who signed on, in the order they did.
Actions 2
Everything that happened, newest first.
- Aug 1, 2014Introduced in House
- Aug 1, 2014Referred to the House Committee on Financial Services.
Subjects
Assigned by the Library of Congress. Policy area: Housing and Community Development.
Text 1
Each version as it was printed, newest first.
- Aug 1, 2014Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.