Mortgage Relief for Disaster Survivors Act

The Mortgage Relief for Disaster Survivors Act creates a federally backed loan forbearance program for borrowers with mortgages that are backed by federal agencies (including FHA, VA, USDA, and GSEs) on properties located in areas affected by a declared disaster. When a disaster is declared, eligible borrowers can request a 180-day forbearance (extended once for up to another 180 days) during the disaster period, regardless of whether they are current on payments. While in forbearance, no new fees, penalties, or interest beyond the standard scheduled amounts accrue. The program applies to both single-family and certain multifamily federally backed loans and takes effect for disasters declared on or after January 1, 2025. Servicers must grant forbearance promptly upon request, and borrowers can discontinue the forbearance at any time.