H.R.3587 - Homeowners' Emergency Mortgage Assistance Act110th Congress (2007-2008)
Summary: H.R.3587 — 110th Congress (2007-2008)
Introduced in House (09/19/2007)
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.