StacksVerified U.S. regulatory reference

12 U.S.C. § 2702

Verified against govinfo.gov as of June 20, 2026View official text on govinfo.gov ↗
No assistance shall be extended with respect to any mortgage under this chapter unless—
  1. (1)the holder of the mortgage has indicated to the mortgagor its intention to foreclose;
  2. (2)the mortgagor and holder of the mortgage have certified that circumstances make it probable that there will be a foreclosure and that the mortgagor is in need of emergency mortgage relief as authorized by this chapter;
  3. (3)payments under the mortgage have been delinquent for at least three months;
  4. (4)the mortgagor has incurred a substantial reduction in income as a result of involuntary unemployment or underemployment due to adverse economic conditions or medical conditions and is financially unable to make full mortgage payments;
  5. (5)there is a reasonable prospect that the mortgagor will be able to make the adjustments necessary for a full resumption of mortgage payments; and
  6. (6)the mortgaged property is the principal residence of the mortgagor.