WASHINGTON — The Emergency Home Ownership and Mortgage Equity Protection Act (H.R. 3609) is in limbo after House Judiciary Committee is rethinking a mark up of the bill today.
According to NAFCU Director of Legislative Affairs Brad Thaler, "nothing's been decided yet" regarding the future of the legislation. The bill would allow bankruptcy judges to restructure mortgage terms in Chapter 13 bankruptcy filings.
He said the committee has not technically pulled the bill but they may hold off on a mark up, scheduled for today, until a full committee hearing takes place. So far one has only been held at the subcommittee level.
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