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H.R.839: Prompt Notification of Short Sales Act
About this Bill
|This bill was introduced in the||113th Congress|
|This bill is primarily about||housing and community development|
|You can||read the bill|
|Sponsor||Tom Rooney, R-Fla.|
|Total Cosponsors||7 (4 Democrats, 3 Republicans)|
|Introduced||Feb. 26, 2013|
|Latest Major Action||Feb. 26, 2013|
|See it on||GovTrack|
|See it on||C-SPAN|
- Bill introduced in the House
- Bill passed in the House
- Bill passed in the Senate
- Bill signed into law
Prompt Notification of Short Sales Act - Requires each servicer of a home mortgage to provide in writing to a mortgagor of a residential mortgage loan specified prompt notifications and decisions regarding a written request of the mortgagor for a short sale of the dwelling or residential real property that is subject to the mortgage, deed of trust, or other security interest securing the mortgage loan.
Authorizes an aggrieved individual to bring a civil action for equitable relief and a monetary award of $1,000 for any violation of this Act.
Declares this Act inapplicable to certain residential mortgages entered into before its enactment whose mortgage agreements explicitly provide a procedure or terms for a short sale approval.
(Source: Congressional Research Service)
|Feb. 26, 2013||Referred to the House Committee on Financial Services.|