legislation: 94-hr-15555

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
94-hr-15555 94 hr 15555 Foreclosure Forbearance Standards Act Housing and Community Development 1976-09-14 1976-09-14 Referred to House Committee on Banking, Currency and Housing. House Rep. Slack, John [D-WV-3] WV D S000473 0 Foreclosure Forebearance Standards Act - Requires any person who makes a federally related mortgage loan to maintain facilities sufficient to insure availability of information concerning such mortgage. States that within 60 days after payments on a mortgage become delinquent and within 30 days before the initiation of any foreclosure proceedings the following must occur: (1) a meeting with the mortgagor to work out a repayment plan; and (2) a transfer of information with respect to such proceedings to the mortgagor. Places restraints on the initiation proceedings, including the requirement that a mortgagee refrain from instituting such proceedings until at least three full monthly installments are due and unpaid, except where the mortgagor abandons the secured property. States that a mortgagee must cease foreclosure proceedings where a mortgagor tenders the total amount due plus attorney's fees. Provides that any mortgagee who fails to comply with state requirements shall no longer be eligible for Federal assistance. Defines the term "federally related mortgage loan" for purposes of this Act. 2025-09-02T18:49:48Z  

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