HR 6340
To provide for mortgage forbearance during the COVID-19 emergency, and for other purposes.
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill provides temporary mortgage forbearance options for homeowners facing financial hardship due to the COVID-19 emergency. It prohibits foreclosures and repossessions during a declared emergency (and for 180 days afterward), and establishes a process for landlords to provide rent relief to tenants of borrowers receiving forbearance. The bill also creates a Federal Reserve credit facility to support mortgage servicers and includes provisions for loan modifications for multifamily properties and USDA loans, aiming to stabilize the housing market and prevent widespread defaults.
Sponsors
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Primary sponsor
Wm. Lacy Clay
Cosponsor
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