To allow homeowners of moderate-value homes who are subject to mortgage foreclosure proceedings to remain in their homes as renters.
Right to Rent Act of 2016
This bill grants eligible mortgagors subject to foreclosure proceedings the right to continue to occupy foreclosed properties subject to the payment of fair market rent for a period of five years that begins upon the commencement of occupancy of such property.
The Department of Housing and Urban Development shall: (1) monitor compliance with this Act, (2) provide assistance to eligible mortgagors in exercising their rights under this Act, and (3) conduct outreach activities to inform eligible mortgagors of this Act.
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
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