[20071119]RS22755_主要居住地例外：第110届国会关于修订《破产法》第1322（b）（2）条的立法提案.pdf

1 For more information regarding the subprime mortgage market, see CRS Report RL33930,Subprime Mortgages: Primer on Current Lending and Foreclosure Issues, by Edward VincentMurphy.Order Code RS22755Updated November 19, 2007The Primary Residence Exception: Legislative Proposals in the 110th Congressto Amend Section 1322(b)(2) of the Bankruptcy CodeDavid H. CarpenterLegislative AttorneyAmerican Law DivisionSummaryThe recent downturn in the housing market has likely played a role in the rise oflate mortgage payments and foreclosures occurring across the country. Some inCongress expect it will lead to increased filings for bankruptcy. As a result, at least fourbills seeking to amend 1322 of Chapter 13 of the Bankruptcy Code have beenintroduced in the 110th Congress. These bills are S. 2133 and H.R. 3778 (the HomeOwners Mortgage and Equity Savings Act, or HOMES Act); S. 2136 (the HelpingFamilies Save Their Homes in Bankruptcy Act of 2007); and H.R. 3609 (the EmergencyHome Ownership and Mortgage Equity Protection Act). This report provides anoverview of the general Chapter 13 process and analyzes how these four bills seek toamend Chapter 13. Mortgage Market BackdropSubprime mortgages are