To establish a short-term moratorium on the payment of principal or interest on certain mortgage loans secured by residential or commercial real estate located in any area declared to be a Federal disaster area due to Hurricane Katrina or Hurricane Rita, and for other purposes.
Hurricane Disaster Mortgage Moratorium Act of 2005 - Establishes a moratorium, for the six-month period beginning on August 28, 2005, on any loan or other extension of credit that is secured by residential or commercial real estate that is located within an area in which the President has declared a major disaster area due to Hurricane Katrina or Rita. Prohibits: (1) any such loan from being found or declared delinquent or in default during such period; and (2) the moratorium period from being included within the length of time that a loan was otherwise in default.
Introduced in House
Introduced in House
Sponsor introductory remarks on measure. (CR E2070)
Referred to the House Committee on Financial Services.
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