Termination Acts to rescind HAMP, Emergency Mortgage Relief Program, and FHA Refinance

Federal funding for foreclosure prevention initiatives may be in jeopardy. Bills have been introduced in the House of Representatives that would terminate (and rescind funding for) three foreclosure prevention initiatives and one neighborhood stabilization initiative. Bill numbers and links are below.

Foreclosure Prevention programs:

H.R. 839, "The HAMP Termination Act of 2011"

H.R. 830, "FHA Refinance Program Termination Act"

H.R. 836, "Emergency Mortgage Relief Program Termination Act"

Neighborhood Stabilization:

H.R. 861, "NSP Termination Act"

If you want to stay tuned on the status of these, feel free to e-mail me at mbrennan@nhc.org and I'll connect you with the people who are following this closely.

Replies to This Discussion

Permalink Reply by Maya Brennan on March 3, 2011 at 7:51pm

Here is a quick status report on the termination acts.

The HAMP and NSP termination bills were postponed until next week (date not yet known). The FHA refinance and Emergency Mortgage Relief Program (EMRP) termination bills passed the committee 33 to 22. Proponents of terminating the programs said that they are ineffective and too costly. Opponents of terminating the programs said that termination would be irresponsible without developing new options to help homeowners avoid foreclosure. The FHA refinance and EMRP termination bills are expected to go to the floor of the House next week.

Permalink Reply by Neil Mayer on October 7, 2011 at 12:27pm

Maya,

Did all of these termination things long since go away or are any alive? Thanks.

Neil Mayer

Permalink Reply by Maya Brennan on October 10, 2011 at 1:04pm

The House passed them all on to the Senate to terminate the programs. but they are effectively dead since there appears to be no support (or insufficient support) in the Senate for them.