A bill to prevent home foreclosures by authorizing the Secretary of Housing and Urban Development to encourage the availability and use of homeownership counseling provided by nonprofit homeownership counseling organizations.
Emergency Homeownership Counseling Act of 1987 - Authorizes the Secretary of Housing and Urban Development to make grants for homeownership counseling organizations. Directs the Secretary to give priority to areas that are experiencing high rates of home foreclosures and are not adequately served by homeownership counseling organizations.
Sets forth program requirements and eligibility provisions.
Stays foreclosure actions during the six-month period after an eligible homeowner applies for counseling.
Authorizes appropriations.
Introduced in House
Introduced in House
Referred to House Committee on Banking, Finance and Urban Affairs.
Referred to Subcommittee on Housing and Community Development.
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