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HR 4826 111th Congress House Taxation Administrative remedies Government corporations and government-sponsored enterprises Housing finance and home ownership Income tax deductions

Responsible Homeowner Relief Act of 2010

Introduced: March 11, 2010 Introduced by: Foster, Bill Democratic · Illinois See on congress.gov
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 Everywhere this bill has been 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 11, 2010
Referred to House Financial Services
Mar 11, 2010
Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Mar 11, 2010
Referred to House Ways and Means
Mar 11, 2010
Introduced in House
 Plain-English summary Congressional Research Service

Responsible Homeowner Relief Act of 2010 - Amends the Internal Revenue Code to allow an individual taxpayer a deduction from gross income for loss from the sale or exchange of a principal residence in which such taxpayer resided for at least two years during the five-year period prior to the sale. Limits the aggregate amount of such deduction to $9,000, allowable in three annual installments of $3,000. Terminates such deduction after 2012.

Requires the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) to waive any short sale waiting period requirement for certain mortgagors who refinance their mortgage in a short sale. Terminates such waiver authority on January 1, 2013.

What's happening now March 11, 2010

Referred to House Financial Services

 Committees of jurisdiction 2