Mortgage Servicers - Requirements and Prohibitions During and After a State of Emergency and Catastrophic Health Emergency (Foreclosure Relief Act of 2021)
What this bill does
Prohibiting a certain mortgage servicer from commencing or completing an action to foreclose a mortgage or deed of trust during a state of emergency and catastrophic health emergency; requiring a servicer to grant a forbearance to a borrower under certain circumstances; prohibiting a period of forbearance from lasting more than 180 days except under certain circumstances; requiring a servicer to notify a borrower of a certain right to mediation under certain circumstances; etc.
Analysis reads the bill text, the fiscal note, and the witness list. It is generated by Claude and reviewed by nobody, so check the source documents before you rely on it.