An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)

An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)

Lapse in Appropriations

When Congress fails to pass funding bills, leading to a temporary shutdown of non-essential government operations and a stoppage of pay for many federal employees.

Forbearance

A temporary postponement of mortgage payments, or an agreement to reduce the amount of monthly payments for a set period.

Federally Backed Mortgage Loan

A home loan that is insured or guaranteed by a U.S. government agency (like the Federal Housing Administration, Department of Veterans Affairs, or Department of Agriculture) or purchased/securitized by government-sponsored enterprises like Fannie Mae or Freddie Mac.

Mortgage Servicer

The company that manages your mortgage loan, handling tasks like collecting payments, keeping records, and dealing with escrow accounts, on behalf of the lender.

Excepted Employee

A federal employee who is required to work during a government shutdown because their job is deemed essential for public safety or national security, even though they may not be paid until funding is restored.

Furlough

A temporary mandatory leave of absence for federal employees without pay, typically occurring during a government shutdown when non-essential operations cease due to a lack of funding.