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S. 1731: Preserving Homes and Communities Act of 2009

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S. 1731: Preserving Homes and Communities Act of 2009

111th Congress · introduced 2009-09-30 · Housing and Community Development · Latest: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S9985-9988)

federal

Follow this bill, step by step

  1. Where it came from: introduced 2009-09-30 · official record
  2. Who proposed it: Sen. Reed, Jack [D-RI] · what a sponsor is
  3. What happened next: no floor votes in our records yet. Why?
  4. Where it stands now: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S9985-9988) Not final yet: this can still change. We check for updates every day.
  5. If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Preserving Homes and Communities Act of 2009

Plain summary

Preserving Homes and Communities Act of 2009 - Prohibits a covered mortgagee from initiating or continuing a foreclosure proceeding against a covered mortgagor that is otherwise authorized under state law unless: (1) the mortgagee has determined whether the mortgagor is eligible for a qualified loan modification (QLM); (2) the mortgagee has offered a QLM to the mortgagor, if eligible; and (3) the mortgagee has made available to the mortgagor, if ineligible for a QLM, the note, deed of trust, or any other document necessary to establish the mortgagee's right to foreclose on the mortgage. Prohibits a covered mortgagee from charging a mortgagor a QLM or other specified fees. Amends the Housing and Urban Development Act of 1968 to direct the Secretary of Housing and Urban Development (HUD) to award grants to state housing finance agencies (or state-designated eligible agencies) to enable them to provide: (1) one-time emergency grants or subsidized loans to assist eligible homeowners in satisfying any amounts past due on their home loans; (2) grants or subsidized loans to eligible homeowners for a specified number of future mortgage payments; and (3) stipends of up to $1,500 to assist with relocation expenses for homeowners not eligible for the program. Directs the Secretary to make competitive grants to state and local governments to establish compulsory mortgagee-mortgagor mediation programs that assist mortgagors facing foreclosure. Requires the Secretary to develop and implement a plan to monitor: (1) conditions and trends in homeownership and the mortgage industry in order to predict foreclosure trends; and (2) the effectiveness of public efforts to reduce mortgage defaults and foreclosures. Requires the Secretary also to develop recommendations for a national database on mortgage defaults and foreclosures to provide relevant information to federal regulatory agencies as well as federal, state, and local governments. Directs the Secretary of the Treasury to transfer and credit $1 billion to the Housing Trust Fund from funds received from the sale of warrants under the Troubled Asset Relief Program (TARP) under the Emergency Economic Stabilization Act of 2008 (EESA).

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Preserving Homes and Communities Act of 2009

Source: Congressional Research Service summary (Introduced in Senate)

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The strongest published arguments

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Sen. Reed, Jack [D-RI] · 7 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Richard J. Durbin (D-IL), Sheldon Whitehouse (D-RI), Jeff Merkley (D-OR), Bernard Sanders (I-VT)

Sponsor's campaign money: Sen. Reed, Jack [D-RI] reported raising $3.7 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (1)
Authorization
A law that creates or continues a government program and says what it may do, often with a suggested spending ceiling. An authorization alone does not provide money; a separate appropriation does.

Plain meanings written from linked sources. All words.

Sources

Record fed-us-cong111-s1731 · catalog fed-us-congress-bills-cong111 · updated 2026-11-15 by psicol fed-bills-cong111