To defer mortgage payment due dates and to prohibit creditors from imposing late fees, increasing interest rates, or submitting adverse credit information with regard to the account of a mortgage holder whose principal residence has been severely impacted by a natural disaster for up to a 90-day period following issuance of a disaster declared by the Presidential for the area in which the mortgage holder's principal residence is located, and for other purposes.
Natural Disaster Emergency Mortgage Relief Act of 2011 - Amends the Truth in Lending Act to allow temporary deferral of mortgage loan payments, without penalty and without adverse treatment of the consumer, during a 30-, 60-, or 90-day period in which a consumer's principal residence has been severely impacted by a natural disaster in an area for which the President has declared a major disaster.
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
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