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Thank you to all the CAI Members who contacted their Congressional representatives on the potential impact of H.R. 1106 — legislation that would allow courts to rewrite a homeowner’s mortgage obligations on their primary residence — sometimes referred to as mortgage cram down.


On Thursday, March 5, the House of Representatives passed HR 1106 with some technical amendments by a vote of 234 to 191. Although the concerns raised by CAI and others have not yet been fully resolved, your efforts in expressing concern have helped us get Congress’s attention, and members of the Judiciary Committee have committed to work with us to clarify and address these issues.


CAI continues to have concerns that the legislation will have a negative impact on associations in states with priority assessment liens, and that the grant of authority to bankruptcy courts, absent clearer direction and limitations, may be used to modify a homeowner’s assessment obligations to his/her community association. Again, thanks to your efforts, Congress is now aware of these issues and we will continue to work with legislators as the bill moves into the Senate.


Your efforts will help us ensure that this legislation will not have negative unintended consequences for common interest communities across the country and the residents who are current in their assessments. A well-crafted plan, that helps those in distress while protecting those who are current, will benefit us all.


We will keep you updated on developments on this legislation through Ungated, CAI’s Chief Executive Officer’s Blog, and in the Heads-Up section of CAI’s webpage. Look for an analysis of the House version of the bill in the week ahead. If the need arises, we will send out future email alerts and notices.


Thank you again for making your voices heard — Congress is listening.