FEDERAL · 42 U.S.C. · Chapter 90
Warnings to homeowners of foreclosure rescue scams
Current through Pub. L. 119-102
Title 42 — The Public Health and Welfare·Ch. 90 — NEIGHBORHOOD AND CITY REINVESTMENT, SELF-HELP AND REVITALIZATION·Subch. I
(a)Assistance to NRC
Notwithstanding any other provision of law, of any amounts made available for any fiscal year pursuant to section 1701x(a)(4)(F) of title 12 (as added by section 1444),1 10 percent shall be used only for assistance to the Neighborhood Reinvestment Corporation for activities, in consultation with servicers of residential mortgage loans, to provide notice to borrowers under such loans who are delinquent with respect to payments due under such loans that makes such borrowers aware of the dangers of fraudulent activities associated with foreclosure.
(b)Notice
The Neighborhood Reinvestment Corporation, in consultation with servicers of residential mortgage loans, shall use the amounts provided pursuant to subsection (a) to carry out activities to inform borrowers under re
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Source Credit
History
(Pub. L. 111–203, title XIV, §1452, July 21, 2010, 124 Stat. 2177.)
Editorial Notes
Editorial Notes
References in Text
Section 1444, referred to in subsec. (a), means section 1444 of Pub. L. 111–203.
Codification
Section was enacted as part of the Expand and Preserve Home Ownership Through Counseling Act and also as part of the Mortgage Reform and Anti-Predatory Lending Act and as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and not as part of the Neighborhood Reinvestment Corporation Act which comprises this subchapter.
Statutory Notes and Related Subsidiaries
Effective Date
Section effective on the date on which final regulations implementing such section take effect, or on the date that is 18 months after the designated transfer date if such regulations have not been issued by that date, see section 1400(c) of Pub. L. 111–203, set out as an Effective Date of 2010 Amendment note under section 1601 of Title 15, Commerce and Trade.
References in Text
Section 1444, referred to in subsec. (a), means section 1444 of Pub. L. 111–203.
Codification
Section was enacted as part of the Expand and Preserve Home Ownership Through Counseling Act and also as part of the Mortgage Reform and Anti-Predatory Lending Act and as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and not as part of the Neighborhood Reinvestment Corporation Act which comprises this subchapter.
Statutory Notes and Related Subsidiaries
Effective Date
Section effective on the date on which final regulations implementing such section take effect, or on the date that is 18 months after the designated transfer date if such regulations have not been issued by that date, see section 1400(c) of Pub. L. 111–203, set out as an Effective Date of 2010 Amendment note under section 1601 of Title 15, Commerce and Trade.