H.R. 8003, Helping HOMES Act of 2020
Summary
House bill 8003 of the 116th Congress, 2D Session, is the Helping Home Owners Maintain Economic Security Act of 2020 (Helping HOMES Act of 2020), a bill to require the provision of notice to homeowners regarding available housing relief to respond to the COVID–19 pandemic, and for other purposes. Evans introduced it on August 11, 2020 with Clay, and it was referred to the Committee on Financial Services. Section 2 amends section 4022 of the CARES Act, replacing 'Federally backed mortgage loan' with 'covered mortgage loan', defined as a credit transaction secured by a mortgage on a 1- to 4-unit dwelling. The notice states that the borrower may seek language assistance and general help through a housing counseling agency and provides information on how to find one.
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Cite this document
“H.R. 8003, Helping HOMES Act of 2020.”
Original at www.govinfo.gov. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/bills-bills-116hr8003ih-bills-116hr8003ih/
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I
116TH CONGRESS
2D SESSION
H. R. 8003
To require the provision of notice to homeowners regarding available housing
relief to respond to the COVID–19 pandemic, and for other purposes.
IN THE HOUSE OF REPRESENTATIVES
AUGUST 11, 2020
Mr. EVANS (for himself and Mr. CLAY) introduced the following bill; which
was referred to the Committee on Financial Services
A BILL
To require the provision of notice to homeowners regarding
available housing relief to respond to the COVID–19
pandemic, and for other purposes.
1 Be it enacted by the Senate and House of Representa-
2 tives of the United States of America in Congress assembled,
3 SECTION 1. SHORT TITLE.
4 This Act may be cited as the ‘‘Helping Home Owners
5 Maintain Economic Security Act of 2020’’ or the ‘‘Helping
6 HOMES Act of 2020’’.
7 SEC. 2. NOTICE TO HOMEOWNERS.
8
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Section 4022 of the CARES Act (15 U.S.C. 9056)
9 is amended—
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2
1 (1) by striking ‘‘Federally backed mortgage
2 loan’ ’’ each place such term appears and inserting
3 ‘‘covered mortgage loan’’;
4 (2) in subsection (a)—
5 (A) by amending paragraph (2) to read as
6 follows:
7 ‘‘(2) COVERED MORTGAGE LOAN.—The term
8 ‘covered mortgage loan’ means any credit trans-
9 action that is secured by a mortgage, deed of trust,
10 or other equivalent consensual security interest on a
11 1- to 4-unit dwelling or on residential real property
12 that includes a 1- to 4-unit dwelling, except that it
13 shall not include a credit transaction under an open
14 end credit plan other than a reverse mortgage.’’; and
15 (B) by adding at the end the following new
16 paragraph:
17 ‘‘(3) COVERED PERIOD.—With respect to a
18 loan, the term ‘covered period’ means the period be-
19 ginning on the date of enactment of this Act and
20 ending 12 months after such date of enactment.’’;
21 and
22 (3) by adding at the end the following new sub-
23 section:
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24 ‘‘(d) NOTICE TO HOMEOWNERS OF AVAILABLE RE-
25 LIEF.—During the period that begins 90 days after the
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1 date of the enactment of this subsection and ends upon
2 the expiration of the covered period, each servicer of a cov-
3 ered mortgage loan shall—
4 ‘‘(1) make available in a clear and conspicuous
5 manner on their web page accurate information for
6 borrowers, in both English and Spanish language,
7 regarding the availability of forbearance under sub-
8 section (b);
9 ‘‘(2) notify each borrower whose payments
10 under a covered mortgage loan are or become 31
11 days delinquent in any oral communication with or
12 to the borrower that the borrower may be eligible to
13 request forbearance as provided under subsection
14 (b), except that such notification shall not be re-
15 quired if the borrower already has obtained forbear-
16 ance under subsection (b); and
17 ‘‘(3) provide to any borrower whose payments
18 on the covered mortgage loan are or become 31 days
19 delinquent, a notification in writing, in both English
20 and Spanish language, not later than the 45th day
21 of the delinquency of the borrower, that—
22 ‘‘(A) states that the borrower may be eligi-
23 ble for forbearance under this section;
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24 ‘‘(B) states that the borrower may seek
25 language assistance and general help through a
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1 housing counseling agency certified by the De-
2 partment of Housing and Urban Development;
3 and
4 ‘‘(C) provides information on how to find
5 a counseling agency described in subparagraph
6 (B).’’.
Æ
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