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H.R. 3129: Family Foreclosure Rescue Corporation Act

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H.R. 3129: Family Foreclosure Rescue Corporation Act

112th Congress · introduced 2011-10-06 · Housing and Community Development · Latest: Referred to the Subcommittee on Insurance, Housing and Community Opportunity.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2011-10-06 · official record
  2. Who proposed it: Rep. Baca, Joe [D-CA-43] · 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 Insurance, Housing and Community Opportunity. 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

Family Foreclosure Rescue Corporation Act

Plain summary

Family Foreclosure Rescue Corporation Act - Instructs the Secretary of the Treasury to establish the Family Foreclosure Rescue Corporation to acquire, via the sale of bonds, home mortgages, and other obligations and liens secured by real estate which are currently in default or at foreseeable risk of default.

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

Family Foreclosure Rescue Corporation Act

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. Baca, Joe [D-CA-43] · 1 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

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 (2)
Bond
A way to borrow money. A government sells bonds to raise money now and promises to pay it back with interest over time. Bonds repaid from taxes often need voter approval.
Obligation
A binding promise by a government agency to pay money, for example by signing a contract or awarding a grant. Spending data such as USAspending.gov counts money when it is obligated, which can be before it is actually paid out.

Plain meanings written from linked sources. All words.

Sources

Record fed-us-cong112-hr3129 · catalog fed-us-congress-bills-cong112 · updated 2026-11-15 by psicol fed-bills-cong112