H.AMDT.25 to H.R.1106

Amendment sought to provide that if a homeowner who has had a mortgage modified in a bankruptcy proceeding sells the home at a profit, the lender can recapture the amount of principal lost in the modification.

H.AMDT.25(A002)
Amends: H.R.1106
Sponsor: Rep Price, Tom [GA-6](offered 3/5/2009)

AMENDMENT DESCRIPTION:
Amendment sought to provide that if a homeowner who has had a mortgage modified in a bankruptcy proceeding sells the home at a profit, the lender can recapture the amount of principal lost in the modification.

AMENDMENT PURPOSE:
An amendment numbered 2 printed in House Report 111-21 to provide that if a homeowner who has had a mortgage modified in a bankruptcy proceeding sells the home at a profit, the lender can recapture the amount of principal lost in the modification.

STATUS:

    3/5/2009 12:57pm:
    Amendment (A002) offered by Mr. Price (GA). (consideration: CR H3014-3015, H3019-3020; text: CR H3014)
    3/5/2009 5:31pm:
    On agreeing to the Price (GA) amendment (A002) Failed by recorded vote: 211 - 218 (Roll no. 101).

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