S. 2136 allows families to save their primary residence when filing for bankruptcy.  According to a loophole in current bankruptcy law, if a person owns more than one home, that person may keep those homes as long as the individual gives up their primary home.  S.2136 seeks to provide additional equity in the bankruptcy system.

The bill has become an issue during the 2008 presidential campaign, with Democrats pushing McCain on the issue of his multiple homes and his stance on this bill.