Emergency Mortgage Loan Modification Act of 2007
Last action on Nov 14, 2007Referred to the House Committee on Financial Services.
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Summary
Emergency Mortgage Loan Modification Act of 2007- Amends the Truth in Lending Act to shield holders of residential mortgage loans from liability for entering into a qualified loan modification or workout plan on any residential mortgage loan consummated on or after January 1, 2004.
Applies such shield from liability only to qualified loan modification or workout plans initiated during the six-month period beginning on the date of the enactment of this Act.
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