,i  #aacth ,,congress  #b;d ,session    
,h4 ,r4 #dccd  ,,in ,,the ,,house ,,of  
,,representatives  ,march #bg1 #bjad    
,ms4 ,michelle ,lujan ,grisham of ,new  
,mexico 7for herself and ,mr4           
,cartwright7 introduced the following   
bill2 which was referred to the         
,committee on the ,judiciary  ,a ,,bill 
,to allow homeowners facing foreclosure 
to avoid deficiency judgments1 and for  
other purposes4  #a4 ,short title ,this 
,act may be cited as the ,foreclosure   
,fairness ,act of #bjad4  #b4           
,deficiency judgments  7a7 ,in general  
,beginning on the date of enactment of  
this ,act1 in the case of any federally 
related mortgage loan made after that   
date1 a court may not enter deficiency  
judgment pertaining to that loan after  
the date of any foreclosure sale of the 
mortgaged property4  7b7 ,rule of       
construction ,nothing in this ,act shall
 be construed to preempt any more       
restrictive ,state or local law         
pertaining to deficiency judgments4  #c4

 ,definitions ,in this ,act3  7#a7      
,deficiency judgment ,the term          
deficiency judgment means any order by a
 court entered after a sale of a        
property subject to a federally related 
mortgage that has been foreclosed on1   
requiring the payment by the mortgagor  
of an amount equal to any balance       
remaining on the mortgage loan after the
 foreclosure sale4  7#b7 ,federally     
related mortgage loan ,the term         
federally related mortgage loan has the 
meaning given such term under section #c
 of the ,real ,estate ,settlement       
,procedures ,act of #aigd 7#ab ,u4,s4,c4
 #bfjb74  7#c7 ,mortgaged property ,the 
term mortgaged property means1 with     
respect to a federally related mortgage 
loan1 the residential real property that
 is subject to the lien securing such   
mortgage loan4