H.R. 7858 · 116th Congress
Helping Owners Maintain Economic Security Act of 2020
- Stage
- In committee
- Sponsor
- Dwight Evans
- Introduced
- 2020-07-30
- Latest action
- 2020-10-06 · Referred to the Subcommittee on Economic Opportunity.
Summary
Helping Owners Maintain Economic Security Act of 2020 or the HOMES Act of 2020
This bill requires servicers of federally-backed mortgage loans to notify borrowers of their eligibility for loan forbearance under existing COVID-19 (i.e., coronavirus disease 2019) economic aid programs. Servicers must provide notice not later than 30 days after enactment. Servicers are exempted from providing notice to borrowers who have previously requested forbearance.
Federal housing agencies must make available to servicers model notices no later than 7 days after enactment.