Right to Rent Act of 2017
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Apr 5, 2017)
Right to Rent Act of 2017
This bill temporarily allows an eligible mortgagor who is subject to foreclosure proceedings to remain in the foreclosed home as a renter for up to five years, subject to specified requirements. The bill applies to a mortgage originated prior to 2009 on a single-family home that: (1) has been used as a primary residence for at least two years, and (2) had a purchase price that is less than the median purchase price for residences in the area.
The bill specifies notice requirements and establishes a formula for determining fair-market rent.
The Department of Housing and Urban Development shall: (1) monitor compliance with the bill, (2) provide assistance to eligible mortgagors in exercising their rights under the bill, and (3) conduct outreach activities.
What just happenedApr 5, 2017
Referred to the House Committee on Financial Services.
Who’s behind it
- Introduced in HouseApr 5, 2017
- Apr 5, 2017IntroReferralH11100
Referred to the House Committee on Financial Services.
Financial Services Committee - Apr 5, 2017IntroReferralIntro-H
Introduced in House
- Apr 5, 2017IntroReferral1000
Introduced in House