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New Mortgage Repayment Rules After COVID-19 Forbearance

This bill introduces new repayment rules for mortgages that received forbearance during the COVID-19 pandemic. The changes aim to help borrowers resume regular payments by extending the loan term by the forbearance period and distributing missed payments without extra fees or penalties. This means individuals who used forbearance will not face a lump-sum repayment, protecting them from sudden financial strain.
Key points
Mortgage loan terms will be extended by the length of the forbearance period.
Missed payments from the forbearance period will be evenly distributed across the remaining loan installments.
No penalties, late fees, or additional interest will be charged for the forbearance period.
Lenders cannot charge a modification fee for implementing these changes.
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Additional Information
Print number: 117_HR_162
Sponsor: Rep. Soto, Darren [D-FL-9]
Process start date: 2021-01-04
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

To amend the CARES Act to provide for repayment terms for mortgages in forbearance, and for other purposes.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_162.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-01-04.

What are the main provisions?

Key points include:

  • Mortgage loan terms will be extended by the length of the forbearance period.
  • Missed payments from the forbearance period will be evenly distributed across the remaining loan installments.
  • No penalties, late fees, or additional interest will be charged for the forbearance period.
  • Lenders cannot charge a modification fee for implementing these changes.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Soto, Darren [D-FL-9].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

Real Estate Economy