House Bill 8003
116th Congress(2019-2020)
Helping HOMES Act of 2020
Introduced
Introduced in House on Aug 11, 2020
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
8003
Congress
116
Policy Area
Housing and Community Development
Housing and Community Development
Primary focus of measure is home ownership; housing programs administration and funding; residential rehabilitation; regional planning, rural and urban development; affordable housing; homelessness; housing industry and construction; fair housing. Measures concerning mortgages and mortgage finance may fall under Finance and Financial Sector policy area.
No House votes have been held for this bill.
Summary
Helping Home Owners Maintain Economic Security Act of 2020 or the Helping HOMES Act of 2020
This bill expands and extends existing single-family and multifamily mortgage forbearance provisions for borrowers experiencing financial hardships due to the COVID-19 (i.e., coronavirus disease 2019) emergency. Specifically, forbearance may be extended to borrowers for up to 12 months. Currently, borrowers may receive 180 days of forbearance, with an extension of up to an additional 180 days. The bill also expands the forbearance provisions to apply to nonfederally backed mortgages.
Mortgage servicers must notify borrowers of the availability of forbearance.
August 11, 2020
08/11/2020
Referred to the House Committee on Financial Services.
08/11/2020
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:45:27 PM