Source: http://www4.law.cornell.edu/uscode/text/12/1701x-2
Timestamp: 2013-12-11 06:29:56
Document Index: 344614970

Matched Legal Cases: ['§ 1701', '§ 1701', '§ 1701', '§ 1498', '§ 5301', '§ 8201', '§ 8301']

12 USC § 1701x–2 - Legal assistance for foreclosure-related issues | Title 12 - Banks and Banking | U.S. Code | LII / Legal Information Institute
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12 USC § 1701x–2 - Legal assistance for foreclosure-related issues
Establishment The Secretary of Housing and Urban Development (hereafter in this section referred to as the “Secretary”) shall establish a program for making grants for providing a full range of foreclosure legal assistance to low- and moderate-income homeowners and tenants related to home ownership preservation, home foreclosure prevention, and tenancy associated with home foreclosure.
Competitive allocation The Secretary shall allocate amounts made available for grants under this section to State and local legal organizations on the basis of a competitive process. For purposes of this subsection “State and local legal organizations” are those State and local organizations whose primary business or mission is to provide legal assistance.
Priority to certain areas In allocating amounts in accordance with subsection (b), the Secretary shall give priority consideration to State and local legal organizations that are operating in the 125 metropolitan statistical areas (as that term is defined by the Director of the Office of Management and Budget) with the highest home foreclosure rates.
In general Any State or local legal organization that receives financial assistance pursuant to this section may use such amounts only to assist—
homeowners of owner-occupied homes with mortgages in default, in danger of default, or subject to or at risk of foreclosure; and
tenants at risk of or subject to eviction as a result of foreclosure of the property in which such tenant resides.
Commence use within 90 days Any State or local legal organization that receives financial assistance pursuant to this section shall begin using any financial assistance received under this section within 90 days after receipt of the assistance.
Prohibition on class actions No funds provided to a State or local legal organization under this section may be used to support any class action litigation.
Limitation on legal assistance Legal assistance funded with amounts provided under this section shall be limited to mortgage-related default, eviction, or foreclosure proceedings, without regard to whether such foreclosure is judicial or nonjudicial.
Effective date Notwithstanding any other provision of this Act, this subsection shall take effect on July 21, 2010.
Limitation on distribution of assistance (1)
In general None of the amounts made available under this section shall be distributed to—
Definition of applicable individuals In this subsection, the term “applicable individual” means an individual who—
Authorization of appropriations There are authorized to be appropriated to the Secretary $35,000,000 for each of fiscal years 2011 through 2012 for grants under this section.
(Pub. L. 111–203, title XIV, § 1498,July 21, 2010, 124 Stat. 2211.)
This Act, referred to in subsec. (d)(5), is Pub. L. 111–203, July 21, 2010, 124 Stat. 1376, known as the Dodd-Frank Wall Street Reform and Consumer Protection Act, which enacted chapter 53 (§ 5301 et seq.) of this title and chapters 108 (§ 8201 et seq.) and 109 (§ 8301 et seq.) of Title 15, Commerce and Trade, and enacted, amended, and repealed numerous other sections and notes in the Code. For complete classification of this Act to the Code, see Short Title note set out under section 5301 of this title and Tables.
Section was enacted as part of the Mortgage Reform and Anti-Predatory Lending Act and also as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and not as part of the National Housing Act which comprises this chapter.
For definition of “State”, see section 5301 of this title.