To terminate the Home Affordable Modification Program of the Department of the Treasury.
HAMP Repeal and Deficit Reduction Act of 2011 - Prohibits the Secretary of the Treasury from providing any assistance on behalf of any homeowner under the Home Affordable Modification Program (HAMP) under the Making Home Affordable initiative, authorized under the Emergency Economic Stabilization Act of 2008, unless before the enactment of this Act the homeowner was extended an offer to participate in such Program on a trial or permanent basis.
Nullifies and terminates all contracts between the Secretary and mortgage servicers under HAMP, except with respect to such homeowners.
Provides for use of unobligated HAMP funds for reducing the federal debt.
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
Referred to the Subcommittee on Insurance, Housing and Community Opportunity.
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