PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the Subcommittee on Courts, Commercial and Administrative Law.
Congressional Research Service
Version 00 · Introduced in House · Dec 6, 2011
Fairness in Foreclosures Act of 2011 - Declares that no action for a deficiency judgment arising from an obligation under a residential mortgage may be brought except in accordance with this Act.
Declares that no such deficiency judgment may be issued unless the court has determined that the foreclosure sale for the property securing repayment was conducted in accordance with specified requirements.
Specifies a formula for determining the total amount a plaintiff may recover in such a deficiency judgment.
Showing the opening paragraphs of the official summary.
Declares that no action for a deficiency judgment may be brought if the (nonrecourse) mortgage terms prohibit recovery after: (1) the residential property securing repayment of such obligation is sold at foreclosure sale, or (2) the mortgage is foreclosed in the manner provided under the law of the state in which the property is located.
Declares that if the mortgagor is a member of a low-income family: (1) no action may be brought for a deficiency judgment; and (2) a deficiency in recovery, from a foreclosure sale, of the full amount of the mortgage obligation may not be reported to any consumer reporting agency or disclosed to any person other than the mortgagor or the mortgagor's personal representative, unless such disclosure is otherwise required by law.
People & committees
Rep. Towns, Edolphus [D-NY-10] · D–NY
Legislative record
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Referred to the Subcommittee on Courts, Commercial and Administrative Law.
Referred to the House Committee on the Judiciary.
Introduced in House
Introduced in House
Primary sources
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No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Aug 14, 2025. Consult Congress.gov for the current record.
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