,i  #aacth ,,congress  #b;d ,session    
,h4 ,r4 #deif  ,,in ,,the ,,house ,,of  
,,representatives  ,may #g1 #bjad ,mr4  
,cohen 7for himself and ,mr4            
,mc,dermott7 introduced the following   
bill2 which was referred to the         
,committee on the ,judiciary  ,a ,,bill 
,to limit investor and homeowner losses 
in foreclosures1 and for other purposes4
  #a4 ,short title ,this ,act may be    
cited as the ,limiting ,investor and    
,homeowner ,loss in ,foreclosure ,act of
 #bjad4  #b4 ,loss mitigation programs  
7a7 ,in general ,section #aje of title  
#aa1 ,united ,states ,code1 is amended  
by adding at the end the following3  7e7
 ,without limiting the court's authority
 under subsection 7d7 or under any other
 statute or rule1 the court1 by local   
rule or order1 may establish and        
maintain a loss mitigation program for  
the consideration and negotiation of    
consensual alternatives to avoid        
foreclosure between an individual debtor
 and the holder of a claim secured by a 

security interest in real property that 
is the debtor's principal residence4  4 
7b7 ,conforming amendment ,section      
#cfb7;e7 of title #aa1 ,united ,states  
,code1 is amended by adding at the end  
the following3  7#c7 ,if the party in   
interest requesting relief from the stay
 under subsection 7d7 of this section   
participates in a loss mitigation       
program maintained pursuant to section  
#aje7;e7 of this title1 the time periods
 specified in paragraphs 7#a7 and 7#b7  
of this subsection shall be tolled      
during the time period commencing on the
 date on which such participation began 
and ending on the date on which notice  
of such termination is filed and served 
on the debtor4  4