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for relief under this chapter at a fixed an-
nual rate equal to the currently applicable 
average prime offer rate as of the date of 
the order for relief under this chapter, cor-
responding to the repayment term deter-
mined under the preceding paragraph, as 
published by the Federal Financial Institu-
tions Examination Council in its table enti-
tled ‘Average Prime Offer Rates—Fixed’, 
plus a reasonable premium for risk; and 
‘‘(D) by providing for payments of such 
modified loan directly to the holder of the claim 
or, at the discretion of the court, through the 
trustee during the term of the plan; and’’, and 
(2) by adding at the end the following: 
‘‘(g) A claim may be reduced under subsection 
(b)(11)(A) only on the condition that if the debtor sells 
the principal residence securing such claim, before com-
pleting all payments under the plan (or, if applicable, be-
fore receiving a discharge under section 1328(b)) and re-
ceives net proceeds from the sale of such residence, then 
the debtor agrees to pay to such holder not later than 15 
days after receiving such proceeds— 
‘‘(1) if such residence is sold in the 1st year oc-
curring after the effective date of the plan, 90 per-
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cent of the amount of the difference between the 
sales price and the amount of such claim as origi-
nally determined under subsection (b)(11) (plus 
costs of sale and improvements), but not to exceed 
the unpaid amount of the allowed secured claim de-
termined as if such claim had not been reduced 
under such subsection; 
‘‘(2) if such residence is sold in the 2d year oc-
curring after the effective date of the plan, 70 per-
cent of the amount of the difference between the 
sales price and the amount of such claim as origi-
nally determined under subsection (b)(11) (plus 
costs of sale and improvements), but not to exceed 
the unpaid amount of the allowed secured claim de-
termined as if such claim had not been reduced 
under such subsection; 
‘‘(3) if such residence is sold in the 3d year oc-
curring after the effective date of the plan, 50 per-
cent of the amount of the difference between the 
sales price and the amount of such claim as origi-
nally determined under subsection (b)(11) (plus 
costs of sale and improvements), but not to exceed 
the unpaid amount of the allowed secured claim de-
termined as if such claim had not been reduced 
under such subsection;
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‘‘(4) if such residence is sold in the 4th year oc-
curring after the effective date of the plan, 30 per-
cent of the amount of the difference between the 
sales price and the amount of such claim as origi-
nally determined under subsection (b)(11) (plus 
costs of sale and improvements), but not to exceed 
the unpaid amount of the allowed secured claim de-
termined as if such claim had not been reduced 
under such subsection; and 
‘‘(5) if such residence is sold in the 5th year oc-
curring after the effective date of the plan, 10 per-
cent of the amount of the difference between the 
sales price and the amount of such claim as origi-
nally determined under subsection (b)(11) (plus 
costs of sale and improvements), but not to exceed 
the unpaid amount of the allowed secured claim de-
termined as if such claim had not been reduced 
under such subsection. 
‘‘(h) With respect to a claim of the kind described 
in subsection (b)(11), the plan may not contain a modi-
fication under the authority of subsection (b)(11)— 
‘‘(1) in a case commenced under this chapter 
after the expiration of the 30-day period beginning 
on the effective date of this subsection, unless— 
‘‘(A) the debtor certifies that the debtor—