Rep. Wants Halt On Foreclosures For Long-Term Unemployed

Law360, Washington (March 17, 2014, 6:22 PM EDT) -- Rep. Matt Cartwright, D-Pa., announced legislation Friday to impose a moratorium on foreclosures for some homeowners affected by a recent delay in Congress extending federal unemployment benefits, saying homeowners shouldn’t be affected by lawmaker inaction.

The bill, H.R. 4255, titled the Stop Foreclosures Due To Congressional Dysfunction Act, would require the Federal Housing Finance Agency to impose a six-month moratorium on foreclosures for borrowers who both hold a mortgage guaranteed by so-called government-sponsored enterprises Fannie Mae and Freddie Mac and have recently lost federal unemployment compensation,...
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