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US HB2928

Bill

Official Source

Status

Introduced

4/17/2025

Primary Sponsor

Judy Chu

Click for details

Origin

House of Representatives

119th Congress

AI Summary

  • Borrowers with federally backed mortgage loans on properties damaged or destroyed in a presidentially-declared disaster may request forbearance for 180 days, with an option to extend for an additional 180 days
  • Servicers must grant forbearance regardless of the loan's delinquency status upon receiving a written request with documentation of verifiable property damage
  • No fees, penalties, or additional interest beyond the original contract terms may accrue during the forbearance period
  • Applies to single-family (1-4 units) and multifamily (5+ units) mortgage loans purchased or securitized by Freddie Mac or Fannie Mae
  • Borrowers may discontinue forbearance at any time upon request

Legislative Description

Mortgage Relief for Disaster Survivors Act

Finance and financial sector

Last Action

Referred to the House Committee on Financial Services.

4/17/2025

Committee Referrals

Financial Services4/17/2025

Full Bill Text

No bill text available