Mortgage and Rental Assistance Reauthorization Act of 2008 - Amends the Robert T. Stafford Disaster Relief and Emergency Assistance Act to authorize the President to provide temporary assistance in the form of mortgage or rental payments for individuals and families who, because of financial hardship caused by a major disaster occurring on or after August 24, 2005, certify that they face dispossession or eviction from a residence by reason of a foreclosure of any mortgage or lien, cancellation of any contract of sale, or termination of any lease, entered into prior to such disaster.
Limits assistance to not more than 18 months.