3873518 Resolution 19-594, "Saving D.C. Homes from Foreclosure Enhanced Congressional Review Emergency Declaration Resolution of 2012"

A RESOLUTION

 

19-594     

 

IN THE COUNCIL OF THE DISTRICT OF COLUMBIA

 

October 2, 2012

 

 

To declare the existence of an emergency, due to Congressional review, with respect to the need to amend An Act To establish a code of law for the District of Columbia to provide a borrower the same rights for a defective notice of default on residential mortgage as the law provides for a defective notice of intention to foreclose on a residential mortgage; to provide that a foreclosure sale of a property secured by a residential mortgage shall be void if a lender files a notice of intention  to foreclose on a residential mortgage without a mediation certificate;  to provide for a new definition of residential mortgage; and to amend the Foreclosure Mediation Fund to allow mortgage-related or foreclosure-related settlement funds to be transferred into the fund and allow those funds to be used for specified mortgage-related or foreclosure-related matters.

 

            RESOLVED, BY THE COUNCIL OF THE DISTRICT OF COLUMBIA, That this resolution may be cited as the “Saving D.C. Homes from Foreclosure Enhanced   Congressional Review Emergency Declaration Resolution of 2012”.

 

            Sec. 2.   (a)  On June 5, 2012, the Council approved the Saving D.C. Homes from Foreclosure Enhancement Emergency Act, effective Jung 5, 2012 (D.C. Act 19-378, 59 DCR 7380)(“Emergency Act”).  The Emergency Act expired on September 13, 2012, and the temporary version is currently under a 30-day Congressional review period as required by section 602(c)(1) of the District of Columbia Home Rule Act, approved December 24, 1973 (87 Stat. 813; D.C. Official Code § 1-206.02(c)(1)).

            (b) It is important that the provisions of the Emergency Act continue in effect, without interruption, until the temporary act becomes law.

(c) The Emergency Act provides to a borrower the same rights for a defective notice of default on residential mortgage as the law provides for a defective notice of intention to foreclose on a residential mortgage.  It also provides that a foreclosure sale of a property secured by a residential mortgage shall be void if a lender files a notice of intention to foreclose on a residential mortgage without a mediation certificate.  In addition, the Emergency Act provides for a new definition of residential mortgage.         

           

 

 

 

Sec. 3.  The Council of the District of Columbia determines that the circumstances enumerated in section 2 constitute emergency circumstances making it necessary that the Saving D.C. Homes from Foreclosure Enhanced Congressional Review Emergency Amendment Act of 2012 be adopted after a single reading.

 

            Sec. 4.  This resolution shall take effect immediately.