SOLD Act

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Congressional Research Service

Official summary

Version 00 · Introduced in Senate · May 15, 2012

Stopping Ongoing Lender Delays Act or SOLD Act - Amends the Truth in Lending Act to require each servicer of a home mortgage to respond in writing within 30 days to a mortgagor of a residential mortgage loan who hasrequested in writing a short sale of the dwelling or residential real property that is subject to the mortgage, deed of trust, or other security interest securing the mortgage loan.

Authorizes an aggrieved individual to bring a civil action for damages and equitable relief for any violation of this Act.

Declares this Act inapplicable to certain residential mortgages entered into before its enactment whose mortgage agreements explicitly provide a procedure or terms for a short sale approval.

Read the summary on Congress.gov

PlainBill analysis is coming later. This page presents official source data. We have not yet published a PlainBill explanation for this bill.

People & committees

Who introduced it

Sen. Heller, Dean [R-NV] · R–NV

Committees

Banking, Housing, and Urban Affairs Committee

0 cosponsorship records, including any withdrawals

Legislative record

Actions

A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.

May 15, 2012
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
May 15, 2012
Introduced in Senate

Primary sources

Bill text & related measures

Text links open the official source. We currently store references to these documents.

Introduced in Senate · May 15, 2012 Formatted Text PDF Formatted XML

Related bills identified by Congress.gov

Source last updated: Aug 14, 2025. Consult Congress.gov for the current record.

AI Conversation Starters

Explore the bill from different angles

Choose a perspective, copy a prompt, and paste it into your preferred AI. Each prompt includes the bill version and available official source links, and asks for counterarguments as well as supporting evidence.

Neutral evidence review

Objective

Analyze S.3177 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

View full prompt & sources

Discuss S.3177, 112th Congress: SOLD Act

Official record: https://www.congress.gov/bill/112th-congress/senate-bill/3177

Text version to examine: Introduced in Senate · 2012-05-15.

Official full text: https://www.congress.gov/112/bills/s3177/BILLS-112s3177is.htm

Imported record last updated by the source: 2025-08-14T14:21:56Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Analyze S.3177 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

Fairness and public impact

Progressive lens

Examine S.3177 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

View full prompt & sources

Discuss S.3177, 112th Congress: SOLD Act

Official record: https://www.congress.gov/bill/112th-congress/senate-bill/3177

Text version to examine: Introduced in Senate · 2012-05-15.

Official full text: https://www.congress.gov/112/bills/s3177/BILLS-112s3177is.htm

Imported record last updated by the source: 2025-08-14T14:21:56Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.3177 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

Institutions and government scope

Conservative lens

Examine S.3177 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

View full prompt & sources

Discuss S.3177, 112th Congress: SOLD Act

Official record: https://www.congress.gov/bill/112th-congress/senate-bill/3177

Text version to examine: Introduced in Senate · 2012-05-15.

Official full text: https://www.congress.gov/112/bills/s3177/BILLS-112s3177is.htm

Imported record last updated by the source: 2025-08-14T14:21:56Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.3177 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

Individual rights and government power

Liberty lens

Examine S.3177 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.

View full prompt & sources

Discuss S.3177, 112th Congress: SOLD Act

Official record: https://www.congress.gov/bill/112th-congress/senate-bill/3177

Text version to examine: Introduced in Senate · 2012-05-15.

Official full text: https://www.congress.gov/112/bills/s3177/BILLS-112s3177is.htm

Imported record last updated by the source: 2025-08-14T14:21:56Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.3177 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.