H.R. 5500 would amend the Fair Credit Reporting Act to provide forbearance from foreclosures of subprime mortgages in the determination of a consumer credit score.

== Detailed Summary ==

<summary>
(Log in to editForeclosure Credit Forgiveness Act of 2008 - Amends the wiki and be the firstFair Credit Reporting Act to provideprohibit the foreclosure on a detailed summarysubprime mortgage of a consumer from being taken into account by any person preparing or calculating the consumer's credit score.

Defines &quot;subprime mortgage&quot; as any consumer credit transaction secured by the consumer's principal dwelling that meets criteria prescribed by the Board of Governors of the bill!)Federal Reserve System.
</summary>

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== Status of the Legislation ==

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Latest Major Action: 2/26/2008: Referred to House committee. Status: Referred to the House Committee on Financial Services.
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== Points in Favor ==

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== Points Against ==

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