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42 U.S.C. § 8108 — Warnings to homeowners of foreclosure rescue scams

Federal law — U.S. Code and appendices · legal_authorities

42 U.S.C. § 8108 — Warnings to homeowners of foreclosure rescue scams

**(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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1701x/a/4/F&num=0&edition=prelim) (as added by section 1444),11 See References in Text note below. 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 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

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Source location: Title 42, Chapter 90, § 8108; chapter-090-neighborhood-and-city-reinvestment-self-help-and-revitalization.md

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Federal law — U.S. Code and appendices · legal_authorities

15 U.S.C. § 1601 — Congressional findings and declaration of purpose

**(a) Informed use of credit** The Congress finds that economic stabilization would be enhanced and the competition among the various financial institutions and other firms engaged in the extension of consumer credit would be strengthened by the informed use of credit. The informed use of credit results from an awareness of the cost thereof by consumers. It is the purpose of this subchapter to assure a meaningful disclosure of credit terms so that the consumer will be able to compare more readily the various credit terms available to him and avoid the uninformed use of credit, and to protect the consumer against inaccurate and unfair credit billing and credit card practices. **(b) Terms of personal property leases** The Congress also finds that there has been a recent trend toward leasing automobiles and other durable goods for consumer use as an alternative to installment credit sales and that these leases have been offered without adequate cost disclosures. It is the purpose of this subchapter to assure a meaningful disclosure of the terms of leases of personal property for personal, family, or household purposes so as to enable the lessee to compare more readily the various lease terms available to him, limit balloon payments in consumer leasing, enable comparison of lease terms with credit terms where appropriate, and to assure meaningful and accurate disclosures of lease terms in advertisements.

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 1702 — Short title

This chapter may be cited as the “National Housing Act.”

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Federal law — U.S. Code and appendices · legal_authorities

42 U.S.C. § 8108 — Warnings to homeowners of foreclosure

Page 7537 TITLE 42—THE PUBLIC HEALTH AND WELFARE § 8108 1 See References in Text note below. EXPANSION OF NATIONAL NEIGHBORHOOD HOUSING SERVICES NETWORK Pub. L. 101–625, title IX, § 917(a), (b), Nov. 28, 1990, 104 Stat. 4397, provided that: ‘‘(a) FINDINGS.—The Congress finds that— ‘‘(1) protecting the existing stock of unsubsidized privately held lower income housing through the re- habilitation and revitalization of declining neighbor- hoods is essential to a national housing policy that seeks to increase the availability of affordable hous- ing for low- and moderate-income families; ‘‘(2) the Neighborhood Reinvestment Corporation, the anchor of the national neighborhood housing services network, was chartered by Congress more than 10 years ago to revitalize neighborhoods for the benefit of current residents by mobilizing public, pri- vate, and community resources at the neighborhood level; ‘‘(3) the national neighborhood housing services network has proven its worth as a successful cost-ef- fective program relying largely on local initiative for the specific design of local programs; ‘‘(4) the national neighborhood housing services network has had more than 10 years of experience in revitalizing declining neighborhoods, creating hous- ing for low- and moderate-income families, and equip- ping residents with skills and resources required to maintain safe and healthy communities; and ‘‘(5) expanding upon the existing capabilities, re- sources, and potential of the national neighborhood housing services network is a cost-effective response to the affordable housing and neighborhood revital- ization needs confronting the Nation, and is a strong preventive measure in addressing the national trag- edy of homelessness. ‘‘(b) PURPOSE.—It is the purpos

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