HR 1940 115th Congress House Housing and Community Development Government information and archives Housing finance and home ownership

Right to Rent Act of 2017

Introduced: April 5, 2017 See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Apr 5, 2017

Referred to the House Committee on Financial Services.

Apr 5, 2017

Introduced in House

Plain-English summary Congressional Research Service

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's happening now April 5, 2017

Referred to the House Committee on Financial Services.

Committees of jurisdiction 1