42 USC 8108 - Warnings to homeowners of foreclosure rescue scams

U.S Code last checked for updates: May 03, 2024

§ 8108.

Warnings to homeowners of foreclosure rescue scams

(a)

Assistance to NRC

(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 residential mortgage loans—

(1)

that the foreclosure process is complex and can be confusing;

(2)

that the borrower may be approached during the foreclosure process by persons regarding saving their home and they should use caution in any such dealings;

(3)

that there are Federal Government and nonprofit agencies that may provide information about the foreclosure process, including the Department of Housing and Urban Development;

(4)

that they should contact their lender immediately, contact the Department of Housing and Urban Development to find a housing counseling agency certified by the Department to assist in avoiding foreclosure, or visit the Department’s website regarding tips for avoiding foreclosure; and

(5)

of the telephone number of the loan servicer or successor, the telephone number of the Department of Housing and Urban Development housing counseling line, and the Uniform Resource Locators (URLs) for the Department of Housing and Urban Development Web sites for housing counseling and for tips for avoiding foreclosure.

(Pub. L. 111–203, title XIV, § 1452, July 21, 2010, 124 Stat. 2177.)

cite as: 42 USC 8108