H.Con.Res. 197: Encouraging banks and mortgage servicers to work with families affected by contaminated drywall to allow temporary forbearance without penalty on payments on their home mortgages

H.Con.Res. 197

Encouraging banks and mortgage servicers to work with families affected by contaminated drywall to allow temporary forbearance without penalty on payments on their home mortgages

Date
December 2, 2009 (111th Congress, 1st Session)

Staff Contact

Floor Situation

H.Con.Res. 197 is expected to be considered on the floor of the House on Wednesday, December 2, 2009, under a motion to suspend the rules, requiring a two-thirds vote for passage. The legislation was introduced by Rep. Genn C. Nye III (D-VA) on October 8, 2009.

Bill Summary

H.Con.Res. 197 would resolve that the Congress encourages banks and mortgage servicers to work with families affected by contaminated drywall to allow temporary forbearance without penalty on payments on their home mortgages.

Background

According to the resolution's findings, because of cases of contaminated drywall, some Americans who pay their mortgages on time are now suffering from both financial problems and health complications. Banks and mortgage servicers can help families affected by contaminated drywall by providing temporary forbearance with respect to their mortgage payments to help such families afford the costs of an additional residence while they are removed from their primary homes.