Provisions
The Helping Families Save Their Homes Act will:
- Expand eligibility for Chapter 13 bankruptcy by excluding home mortgage debt from the current maximum debt limitations.
- Authorize the Secretary of Housing and Urban Development to pay out all or some of the balance owed on any Federal Housing Administration-insured loans that are modified under the legislation.
- Expand the HOPE for Homeowners program
- Provide a legal safe harbor from liability for lenders that enter into loan modifications or workouts with borrowers. (Under current law, lenders that have packaged and sold one or more mortgages to investors as securities may be held liable for losses suffered by the investor as a result of the loan modification.)
- Extend increased Federal Deposit Insurance Corporation (FDIC) and National Credit Union Administration (NCUA) deposit insurance limits until December 31, 2013. (The Emergency Economic Stabilization Act temporarily increased the FDIC and NCUA limits from $100,000 to $250,000 in 2008, but those increases were scheduled to expire on December 31, 2009.)
Read more about this topic: Helping Families Save Their Homes Act Of 2009
Famous quotes containing the word provisions:
“Drinking tents were full, glasses began to clink in carriages, hampers to be unpacked, tempting provisions to be set forth, knives and forks to rattle, champagne corks to fly, eyes to brighten that were not dull before, and pickpockets to count their gains during the last heat. The attention so recently strained on one object of interest, was now divided among a hundred; and, look where you would, there was a motley assemblage of feasting, talking, begging, gambling and mummery.”
—Charles Dickens (1812–1870)
“Drinking tents were full, glasses began to clink in carriages, hampers to be unpacked, tempting provisions to be set forth, knives and forks to rattle, champagne corks to fly, eyes to brighten that were not dull before, and pickpockets to count their gains during the last heat. The attention so recently strained on one object of interest, was now divided among a hundred; and, look where you would, there was a motley assemblage of feasting, talking, begging, gambling and mummery.”
—Charles Dickens (1812–1870)
“Perhaps it is a universal truth that the loss of liberty at home is to be charged to provisions against danger, real or pretended, from abroad.”
—James Madison (1751–1836)