US LAWS, STATUTES & CODES ON-LINE

US Supreme Court Decisions On-Line | US Laws



§ 2710. —  Reports to Congress; time; contents.



[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
  January 24, 2002 and December 19, 2002]
[CITE: 12USC2710]

 
                       TITLE 12--BANKS AND BANKING
 
                  CHAPTER 28--EMERGENCY MORTGAGE RELIEF
 
Sec. 2710. Reports to Congress; time; contents

    Within sixty days after July 2, 1975, and within each sixty-day 
period thereafter prior to October 1, 1977, the Secretary shall make a 
report to the Congress on (1) the current rate of delinquencies and 
foreclosures in the housing market areas of the country which should be 
of immediate concern if the purposes of this chapter is to be achieved; 
(2) the extent of, and prospect for continuance of, voluntary 
forebearance by mortgagees in such housing market areas; (3) actions 
being taken by governmental agencies to encourage forebearance by 
mortgagees in such housing market areas; (4) actions taken and actions 
likely to be taken with respect to making assistance under this chapter 
available to alleviate hardships resulting from any serious rates of 
delinquencies and foreclosures; and (5) the current default status and 
projected default trends with respect to mortgages covering multifamily 
properties with special attention to mortgages insured under the various 
provisions of the National Housing Act [12 U.S.C. 1701 et seq.] and with 
recommendations on how such defaults and prospective defaults may be 
cured or avoided in a manner which, while giving weight to the financial 
interests of the United States, takes into full consideration the urgent 
needs of the many low- and moderate-income families that currently 
occupy such multifamily properties.

(Pub. L. 94-50, title I, Sec. 111, July 2, 1975, 89 Stat. 253; Pub. L. 
94-375, Sec. 13(c), Aug. 3, 1976, 90 Stat. 1075.)

                       References in Text

    The National Housing Act, referred to in text, is act June 27, 1934, 
ch. 847, 48 Stat. 1246, as amended, which is classified principally to 
chapter 13 (Sec. 1701 et seq.) of this title. For complete 
classification of this Act to the Code, see section 1701 of this title 
and Tables.


                               Amendments

    1976--Pub. L. 94-375 substituted ``October 1, 1977'' for ``July 1, 
1976''.



chanrobles.com.Com