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H.R. 5601 (111th): Gulf Coast Homeowners Relief Act of 2010

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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

6/24/2010--Introduced. Gulf Coast Homeowners Relief Act of 2010 - Applies through FY2011 certain provisions of Mortgagee Letter 2002-17 of the Secretary of Housing and Urban Development (HUD), relating to Type I Special Forbearance, to mortgagees of specified mortgages insured by the Federal Housing Administration (FHA) whose mortgagors suffered a loss of income or an increase in living expenses as a result of the explosion on and sinking of the mobile offshore drilling unit Deepwater Horizon, the ensuing discharge of oil in the Gulf of Mexico, or the effects of such discharge on the economy in affected areas.

Directs the Secretary of HUD to develop and submit to the Congress: (1) a list of HUD-administered programs and resources that will be made immediately available to assist homeowners of one- to four-family dwelling, and communities, that have suffered negative economic consequences as a result of such incident or the discharge of oil caused by it; and (2) a long-term plan to assist such homeowners.