S. 3509: A bill to provide borrowers the right to request forbearance on mortgage loan payments due to a declared disaster, and for other purposes.
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S. 3509: A bill to provide borrowers the right to request forbearance on mortgage loan payments due to a declared disaster, and for other purposes.
116th Congress · introduced 2020-03-17 · Housing and Community Development · Latest: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
federal
Follow this bill, step by step
- Where it came from: introduced 2020-03-17 · official record
- Who proposed it: Sen. Brown, Sherrod [D-OH] · what a sponsor is
- What happened next: no floor votes in our records yet. Why?
- Where it stands now: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Not final yet: this can still change. We check for updates every day.
- If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.
Official title
A bill to provide borrowers the right to request forbearance on mortgage loan payments due to a declared disaster, and for other purposes.
Plain summary
This bill suspends foreclosures and establishes a forbearance program for certain federally backed mortgages during the coronavirus (i.e., the virus that causes COVID-19) outbreak and other disasters. Specifically, during the coronavirus outbreak or in an area where another disaster has been declared, a federally backed mortgage servicer is (1) prohibited from initiating a foreclosure, and (2) must suspend any foreclosure procedures. These requirements are lifted 180 days after such a declaration. Borrowers experiencing financial hardships due to the coronavirus outbreak or other disaster may request a forbearance on their federally backed mortgage payment for 180 days, which may be extended for an additional 180 days at the borrower's request. A servicer may not charge fees, interest, or other penalties in connection with the forbearance. Before the end of the forbearance period, a servicer must evaluate a borrower's ability to make regular mortgage payments. If the borrower is unable to return to making regular payments, the servicer must evaluate the borrower for certain loan modification options.
Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.
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A “Nay” vote
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What does this mean? (plain words)
Official text
A bill to provide borrowers the right to request forbearance on mortgage loan payments due to a declared disaster, and for other purposes.
Source: Congressional Research Service summary (Introduced in Senate)
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How did my representative vote? · This bill's floor votes
Officials and money
Sponsor: Sen. Brown, Sherrod [D-OH] · 3 cosponsors
Cost estimate: No cost estimate published yet.
Cosponsors on this site
Cory A. Booker (D-NJ), Elizabeth Warren (D-MA)
No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.
Words on this page, explained (1)
- Bill
- A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Plain meanings written from linked sources. All words.
Sources
- Congressional Research Service summary (Introduced in Senate)
- Congress.gov
- Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-116s3509.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/116/s>
Record fed-us-cong116-s3509 · catalog fed-us-congress-bills-cong116 · updated 2026-11-15 by psicol fed-bills-cong116