Federal Worker Mortgage Forbearance Act allows federal employees to request forbearance on federally backed mortgage loans during lapses in.
The Federal Worker Mortgage Forbearance Act allows federal employees to request forbearance on federally backed mortgage loans during periods of lapse in appropriations. Federally backed mortgage loans include those insured by the Federal Housing Administration, the Department of Veterans Affairs, or the Department of Agriculture. The forbearance period is 90 days, and no lump-sum payment is required after forbearance ends. The act also amends the Fair Credit Reporting Act to require credit information reporting during forbearance periods.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.