H.R.1764

To require that amounts of assistance provided to financial institutions under the Troubled Asset Relief Program of the Secretary of the Treasury that are returned be used only for assistance for homeowners in accordance with the Making Home Affordable Program of the Secretary.

3/26/2009--Introduced.

Helping Homeowners in Distressed Communities Act of 2009 - Amends the Emergency Economic Stabilization Act of 2008 (EESA) to prohibit the Secretary of the Treasury from using any amounts of homeowner assistance provided to or for any financial institution that are voluntarily returned to the Secretary. Permits the use of such amounts, however, to refinance and modify mortgages of homeowners in accordance with the Making Home Affordable Program established by the Secretary.

Limits the allocation of any such returned amounts to areas disproportionately affected by home mortgage foreclosures.

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