Emergency Mortgage Assistance Act of 1983

Summary

Emergency Mortgage Assistance Act of 1983 - Authorizes the Secretary of Housing and Urban Development to provide emergency mortgage assistance payments to persons who, as a result of financial hardship in areas of high unemployment: (1) have received notice of mortgage foreclosure; or (2) are receiving unemployment benefits or have exhausted eligibility for such benefits and are more than 60 days delinquent in making a mortgage payment. Limits the period for which such assistance may be provided to 18 months or the period of financial hardship, whichever is shorter. Increases the assisted individual's mortgage payment by ten percent at the end of such period until the assistance is repaid. Authorizes appropriations.

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1 official file

• Introduced in Senate

  summary · EN · 1 February 1983

  Open at official source

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