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When Mother Nature flips the table, the Senate’s new plan says, “Put the mortgage down and back away slowly.” A fresh bill would hand disaster-hit homeowners six months of payment relief (no interest, no penalties) so they can rebuild first and refinance their sanity later.

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MORTGAGE SNOOZE BUTTON

Story: A bipartisan push in D.C. would grant six months of mortgage relief to homeowners with federally backed loans in FEMA-declared disaster areas (with the option to extend another six). During the pause, no interest or penalties accrue. The bill arrives after a brutal year of wildfires and floods—L.A.’s Eaton Fire alone destroyed thousands of structures—and mirrors short-term pauses that some lenders offered after recent events. It aims to keep families in their homes while insurance claims, FEMA aid, and rebuild logistics catch up.

So What? If passed, this measure would lower near-term foreclosure and distressed-sale pressure in disaster counties, potentially stabilizing comps and mitigating price shocks. Servicers and RMBS holders would see cash-flow timing shift, but portfolio losses could ease if forced sales are avoided. For SFR owners and PMs operating in high-risk markets, expect longer recovery timelines, insurance delays, and potentially stickier tenants who prefer renewing over relocating mid-rebuild.

What’s Next? Monitor committee calendars to see if this is stapled to a larger disaster package. If so, agencies (Fannie/Freddie/FHA/VA) would then issue the servicing playbook and go-live dates. Keep an eye on FEMA declarations (determines eligibility), any state foreclosure moratoria, and how insurers handle smoke/flood claims—those timelines will drive how long tenants and borrowers need relief.

Source: CNBC

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