Bill > HR7301

Introduced Session

Addresses various housing issues in response to the COVID-19 (i.e., coronavirus disease 2019) public health emergency, including housing assistance programs and moratoriums on evictions and foreclosures. The bill authorizes additional housing assistance, including rental assistance, for (1) low-income individuals with families, including those who are homeless or at risk of homelessness; (2) the elderly; (3) individuals with disabilities; and (4) rural renters. In addition, the bill establishes a 12-month moratorium on evictions covering all tenants, whereas the previously enacted moratorium covered only tenants of federally assisted properties. Similarly, the bill establishes a 12-month moratorium on foreclosures that covers all tenants, whereas the previously enacted moratorium covered only federally backed mortgages. The bill also establishes an automatic 60-day forbearance (i.e., suspension of mortgage payments) for a single-family mortgage that becomes delinquent by 60 days during the public health emergency. Under current law, the borrower must request a forbearance. This automatic forbearance also applies to certain reverse mortgages. The bill extends the maximum period of forbearance for multifamily mortgages from 90 days to 12 months. Additionally, the bill establishes a six-month moratorium on the repossession of personal property used as a dwelling. The bill also provides additional bankruptcy protections by (1) increasing the homestead exemption (generally, the equity in a residence that is protected from creditors in a bankruptcy proceeding) from $15,000 to $100,000, and (2) expanding eligibility for Chapter 13 bankruptcy.

Committee Categories

Maxine Waters (D)*,  Cindy Axne (D),  Lacy Clay (D),  Chuy García (D),  Al Green (D),  Denny Heck (D),  Ayanna Pressley (D),  Michael San Nicolas (D),  David Scott (D),  Nydia Velázquez (D), 

Received in the Senate. (on 06/30/2020)

Official Document