Homeowners' Emergency Mortgage Assistance Act
Last action on Feb 28, 2005Referred to the Subcommittee on Housing and Community Opp...
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Summary
Homeowners' Emergency Mortgage Assistance Act - Directs the Secretary of Housing and Urban Development to establish a mortgage emergency assistance program for qualifying homeowners with National Housing Act-insured mortgages who are temporarily unable to meet their obligations due to financial hardship beyond their control.
Requires: (1) homeowner repayment of such assistance and interest; and (2) certain conditions to be met before legal action may be taken against a qualifying homeowner, including providing the homeowner with program notice.
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