H.R. 3566: Fairness in Foreclosures Act of 2011
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H.R. 3566: Fairness in Foreclosures Act of 2011
112th Congress · introduced 2011-12-06 · Housing and Community Development · Latest: Referred to the Subcommittee on Courts, Commercial and Administrative Law.
federal
Follow this bill, step by step
- Where it came from: introduced 2011-12-06 · official record
- Who proposed it: Rep. Towns, Edolphus [D-NY-10] · what a sponsor is
- What happened next: no floor votes in our records yet. Why?
- Where it stands now: Referred to the Subcommittee on Courts, Commercial and Administrative Law. Not final yet: this can still change. We check for updates every day.
- If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.
Official title
Fairness in Foreclosures Act of 2011
Plain summary
Fairness in Foreclosures Act of 2011 - Declares that no action for a deficiency judgment arising from an obligation under a residential mortgage may be brought except in accordance with this Act. Declares that no such deficiency judgment may be issued unless the court has determined that the foreclosure sale for the property securing repayment was conducted in accordance with specified requirements. Specifies a formula for determining the total amount a plaintiff may recover in such a deficiency judgment. Declares that no action for a deficiency judgment may be brought if the (nonrecourse) mortgage terms prohibit recovery after: (1) the residential property securing repayment of such obligation is sold at foreclosure sale, or (2) the mortgage is foreclosed in the manner provided under the law of the state in which the property is located. Declares that if the mortgagor is a member of a low-income family: (1) no action may be brought for a deficiency judgment; and (2) a deficiency in recovery, from a foreclosure sale, of the full amount of the mortgage obligation may not be reported to any consumer reporting agency or disclosed to any person other than the mortgagor or the mortgagor's personal representative, unless such disclosure is otherwise required by law.
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
Fairness in Foreclosures Act of 2011
Source: Congressional Research Service summary (Introduced in House)
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Alternatives
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How did my representative vote? · This bill's floor votes
Officials and money
Sponsor: Rep. Towns, Edolphus [D-NY-10] · 2 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 (1)
- 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
- Congressional Research Service summary (Introduced in House)
- Congress.gov
- Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-112hr3566.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/112/hr>
Record fed-us-cong112-hr3566 · catalog fed-us-congress-bills-cong112 · updated 2026-11-15 by psicol fed-bills-cong112