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H.R. 1498: Prompt Decision for Qualification of Short Sale Act of 2011

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H.R. 1498: Prompt Decision for Qualification of Short Sale Act of 2011

112th Congress · introduced 2011-04-12 · Housing and Community Development · Latest: Referred to the Subcommittee on Financial Institutions and Consumer Credit.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2011-04-12 · official record
  2. Who proposed it: Rep. Rooney, Thomas J. [R-FL-16] · what a sponsor is
  3. What happened next: no floor votes in our records yet. Why?
  4. Where it stands now: Referred to the Subcommittee on Financial Institutions and Consumer Credit. 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

Prompt Decision for Qualification of Short Sale Act of 2011

Plain summary

Prompt Decision for Qualification of Short Sale Act of 2011 - Amends the Truth in Lending Act to consider approved a mortgagor's written request to a mortgage loan servicer for a short sale of a dwelling or residential real property if the mortgagor has not received, within 45 days after the servicer's receipt of the request, a written notification of whether the request has been approved, specified changes are required, or additional information is required. Declares this Act inapplicable to certain residential mortgages entered into before enactment of this Act which explicitly provide a procedure or terms for a short sale approval.

Congressional Research Service summary (Introduced in House), 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

Prompt Decision for Qualification of Short Sale Act of 2011

Source: Congressional Research Service summary (Introduced in House)

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The strongest published arguments

Arguments for (supporters)

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Arguments against (opponents)

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Alternatives

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

Officials and money

Sponsor: Rep. Rooney, Thomas J. [R-FL-16] · 51 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Martin Heinrich (D-NM), Marsha Blackburn (R-TN), Gus M. Bilirakis (R-FL), Adam B. Schiff (D-CA), Brad Sherman (D-CA), Jim Costa (D-CA), Lloyd Doggett (D-TX), Mike Thompson (D-CA), Paul Tonko (D-NY), Henry C. "Hank" Johnson, Jr. (D-GA), James P. McGovern (D-MA), Danny K. Davis (D-IL), Linda T. Sánchez (D-CA)

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.

Sources

Record fed-us-cong112-hr1498 · catalog fed-us-congress-bills-cong112 · updated 2026-11-15 by psicol fed-bills-cong112