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H.R. 1498 112th Congress House

Prompt Decision for Qualification of Short Sale Act of 2011

Official title: To require the lender or servicer of a home mortgage, upon a request by the homeowner for a short sale, to make a prompt decision whether to allow the sale.

Introduced: June 6, 2012 See on congress.gov
Housing and Community Development Housing finance and home ownership
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This bill died when the 112th Congress ended
It never became law before the 112th Congress (2011–2012) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 2, 2011
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Apr 12, 2011
Referred to the House Committee on Financial Services.
Apr 12, 2011
Introduced in House
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 Latest action May 2, 2011

Referred to the Subcommittee on Financial Institutions and Consumer Credit.

 Plain-English summary Congressional Research Service

Prompt Decision for Qualification of Short Sale Act of 2011 - Amends the Truth in Lending Act to consider approved a mortgagor's written request to a mortgage loan servicer for a short sale of a dwelling or residential real property if the mortgagor has not received, within 45 days after the servicer's receipt of the request, a written notification of whether the request has been approved, specified changes are required, or additional information is required.

Declares this Act inapplicable to certain residential mortgages entered into before enactment of this Act which explicitly provide a procedure or terms for a short sale approval.

 Related & companion bills 2
  • HR 6153 Fast Help For Homeowners Act
  • S 2120 Prompt Notification of Short Sales Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 51
All 51 Democratic 11 Republican 2
D
Sánchez, Linda T.
California · Nov 15, 2012
CRENSHAW, ANDER
· Jun 6, 2012
 D
Davis, Danny K.
Illinois · Jun 6, 2012
Griffin, Tim
· Jun 6, 2012
HINCHEY, MAURICE
· Jun 6, 2012
 D
Johnson, Henry C. "Hank"
Georgia · Jun 6, 2012
 D
McGovern, James P.
Massachusetts · Jun 6, 2012
Michaud, Michael
· Jun 6, 2012
PETERSON, COLLIN
· Jun 6, 2012
WAXMAN, HENRY
· Jun 6, 2012
Higgins, Brian
· May 16, 2012
KING, PETER
· May 16, 2012
LOBIONDO, FRANK
· May 16, 2012
ROTHMAN, STEVEN
· May 16, 2012
 D
Tonko, Paul
New York · May 16, 2012
Hahn, Janice
· Feb 29, 2012
HONDA, MICHAEL
· Feb 29, 2012
 D
Thompson, Mike
California · Dec 13, 2011
DAVIS, SUSAN
· Oct 4, 2011
Deutch, Theodore
· Jun 13, 2011
 D
Grijalva, Raúl M.
Arizona · Jun 13, 2011
PETRI, TOM
· Jun 13, 2011
Schrader, Kurt
· Jun 13, 2011
Posey, Bill
· Jun 3, 2011
Young, C. W.
· Jun 2, 2011
Eshoo, Anna
· Jun 1, 2011
McNerney, Jerry
· Jun 1, 2011
UPTON, FRED
· Jun 1, 2011
LOWEY, NITA
· May 25, 2011
Noem, Kristi
· May 25, 2011
Rivera, David
· May 25, 2011
 D
Costa, Jim
California · May 23, 2011
 D
Doggett, Lloyd
Texas · May 23, 2011
PASTOR, ED
· May 23, 2011
TOWNS, EDOLPHUS
· May 23, 2011
 R
Bilirakis, Gus M.
Florida · May 13, 2011
 R
Blackburn, Marsha
Tennessee · May 13, 2011
RUSH, BOBBY
· May 13, 2011
 D
Schiff, Adam B.
California · May 13, 2011
 D
Sherman, Brad
California · May 13, 2011
West, Allen
· May 13, 2011
WOOLSEY, LYNN
· May 13, 2011
Gerlach, Jim
· May 12, 2011
GREEN, GENE
· May 12, 2011
Harper, Gregg
· May 12, 2011
Hunter, Duncan
· May 12, 2011
MICA, JOHN
· May 12, 2011
FRANK, BARNEY
· May 11, 2011
Speier, Jackie
· May 11, 2011
 D
Heinrich, Martin
New Mexico · May 10, 2011
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APA
U.S. Congress. (2026). H.R. 1498: Prompt Decision for Qualification of Short Sale Act of 2011. 112th Congress. Open America. https://openamerica.io/bill/112-HR-1498/
MLA
"H.R. 1498: Prompt Decision for Qualification of Short Sale Act of 2011." 112th Congress, 2026, Open America, https://openamerica.io/bill/112-HR-1498/.
Bluebook (legal)
H.R. 1498, 112th Cong. (2026), https://openamerica.io/bill/112-HR-1498/.
Markdown link
[H.R. 1498: Prompt Decision for Qualification of Short Sale Act of 2011](https://openamerica.io/bill/112-HR-1498/)
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