Congressional Legislation

The following information was taken from the United States Congress' Official Website.

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The information below can be found at http://www.congress.org/congressorg/issues/bills/?billnum=H.R.4735&congress=110.

Congressional Legislation
Bill # H.R.4735
To amend the Truth in Lending Act to protect tenants interests in foreclosure proceedings.
Original Sponsor:Keith Ellison (D-MN 5th)
Cosponsor Total: 1 (last sponsor added 12/17/2007) 1 Democrats

About This Legislation:12/17/2007
Introduced.Tenant Protection in Foreclosure Act of 2007 - Amends the Truth in Lending Act with respect to the effect on a preexisting lease of foreclosure on any dwelling or residential real property securing an extension of credit. States that any successor in interest in such property pursuant to the foreclosure shall assume that interest subject to: (1) provision of a 90-day notice to vacate to any bona fide tenant of such property; (2) the rights of such a tenant either to continue occupancy until the end of a preexisting lease, or until the end of the six-month period beginning on the date of the notice of foreclosure, whichever occurs first; and (3) the right of such a tenant to the 90-day notice to vacate, if the tenant has no lease or has a lease terminable at will under state law.

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The bill was referred to the House Committee on Financial Services on 12/17/2007. So far, no amendments have been made and no other action has been taken. There is no way to know when and if this bill will actually pass both the House and the Senate.

It is amazing how long it is taking our government to pass reasonable legislative laws to protect its citizens in this crisis. This bill has been "sitting" in Congress for over three months. in the meantime, thousands of foreclosed tenants have been or are about to be evicted. We need Congress to move faster or our country will be facing the largest homeless numbers in history.

Please go to http://www.congress.org/congressorg/home/ to write your officials and demand that they move faster on this issue. Just put in your zip code to get a full listing of your officials. There will be direct links to write your country's president, senators and representatives. There will also be direct links to your state's governor, senate and assembly members.

These people are elected officials. If enough voters complain about this crisis, they will have to take action. Please stand up and raise your voice. That's the only way that they will take this problem seriously and take fast action.

Kiesha Joseph