HR 6632
To amend the CARES Act to provide for repayment terms for mortgages in forbearance, and for other purposes.
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- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill amends the CARES Act to provide more flexible repayment terms for homeowners who have been in mortgage forbearance due to the COVID-19 pandemic. Specifically, it requires mortgage servicers to extend the loan term for the same duration as the forbearance period. Payments missed during forbearance must be spread evenly across future payments without incurring additional interest or fees. The bill aims to ease the financial burden on borrowers struggling with mortgage payments during the pandemic.
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Primary sponsor
Cosponsors
Alan S. Lowenthal
Alcee L. Hastings
Charlie Crist
Earl Blumenauer
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