S 2569
Mortgage Relief for Disaster Survivors Act
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- Became Law
Bill overview
The Mortgage Relief for Disaster Survivors Act aims to provide assistance to homeowners with federally backed mortgages impacted by major disasters or emergencies. It allows borrowers to request a temporary forbearance on their loan payments during the period following a disaster declaration, regardless of their current delinquency status. This measure is intended to ease the financial burden on homeowners struggling to recover from disasters, offering a 180-day forbearance period with potential extensions and preventing the accrual of fees or penalties during this time.
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