Bills · HR 2928
IN COMMITTEE· 119TH CONGRESS
House BillHR 2928Finance and Financial Sector
Mortgage Relief for Disaster Survivors Act
INTRO APR 17· LAST ACTION APR 17
READING
3MIN
COSPONSORS
13
READER REACTIONS0 TOTAL
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- Introduced only
LEGISLATIVE PROGRESS
STEP 2 / 8Introduced
In Committee
Reported
Passed House
Passed Senate
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenWhen a major disaster strikes, many people face immediate and overwhelming financial challenges, often losing their homes, belongings, and sources of income. This bill matters because it offers a critical safety net, ensuring that disaster survivors with specific types of home loans don't have to worry about making mortgage payments right away while they are trying to recover and rebuild.
If this bill becomes law, it would provide a clear, standardized, and automatic process for temporary mortgage relief, helping to prevent widespread foreclosures and financial ruin in disaster-stricken areas. Without it, homeowners might face more difficulty negotiating payment pauses with their mortgage companies, potentially leading to greater instability and slower recovery after a disaster.
KEY PROVISIONS
4AI-extractedPROVISION 01
Homeowners and owners of multi-family properties with federally backed loans can request a 180-day payment pause (forbearance) if their property is damaged or destroyed in a federally declared disaster area.
This provides immediate financial relief to disaster survivors when they need it most, helping them avoid losing their homes.
PROVISION 02
Borrowers can request one extension of the forbearance for an additional 180 days, totaling up to one year of paused payments.
This gives survivors more time to recover and make long-term plans without the immediate pressure of mortgage payments.
PROVISION 03
During the forbearance, no additional fees, penalties, or interest beyond what would normally accrue will be charged.
This protects borrowers from accumulating extra debt or facing punitive costs while they are trying to rebuild.
PROVISION 04
Forbearance must be granted regardless of whether the borrower was already behind on their payments (delinquent).
This ensures that even financially struggling individuals can access relief during a disaster, preventing a worse financial spiral.
SPONSORSHIP
1 + 13
D· California
YRS IN OFFICE
17
BILLS LED
42
COSPONSOR BREAKDOWNBIPARTISAN · 0%
DEM 13 REP 0 IND 0
ACTION TIMELINE
2 EVENTSAPR 17
Introduced in House
APR 17
Referred to the House Committee on Financial Services.
BILL INFO
TypeHouse Bill
NumberHR 2928
Congress119th
StatusIn Committee
IntroducedApr 17, 2025
Last actionApr 17, 2025
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IN COMMITTEE· 119TH CONGRESS · FINANCIAL SERVICES COMMITTEE · INTRODUCED APR 17, 2025
House BillHR 2928Finance and Financial Sector
Mortgage Relief for Disaster Survivors Act
INTRODUCED APR 17, 2025· LAST ACTION APR 17, 2025
PASSAGE CHANCES
—%
READING
3 min
COSPONSORS
13
COMPLEXITY
Moderate
