HR 3422 · 99th Congress · Housing and Community Development

Emergency Mortgage Foreclosure Avoidance Act of 1985

Introduced 1985-09-24· Sponsored by Rep. Savage, Gus [D-IL-2]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to Subcommittee on Housing and Community Development.(1985-09-24)

Plain Language Summary

[AI summary unavailable — showing source text] Emergency Mortgage Foreclosure Avoidance Act of 1985 - Amends the National Housing Act to require (current law authorizes) the Secretary of Housing and Urban Development to provide temporary mortgage assistance payments to eligible mortgagor-homeowners. Requires notice and a waiting period before a mortgagee may accelerate, foreclose, or take any legal action on a mortgage. Requires (current law authorizes) the Secretary to acquire a mortgage in order to avoid foreclosure, and to assist the mortgagor after such acquisition.…

Summarized by Claude AI · Non-partisan · For informational purposes only