An Act Instituting a Loan Restructuring and Condonation Program for Socialized and Low-Cost Housing
The Housing Loan Condonation Act would let low‑income families with delinquent socialized or low‑cost housing loans apply for a one‑time restructuring that wipes out accrued interest, penalties and surcharges, removes application fees, and may extend the loan term at a maximum 3 % interest rate. The program would run for 24 months after the rules are issued and excludes accounts that are abandoned, foreclosed, or never paid.
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SBN-1863 · Sources: BatasWatch
Similar in what they’d do, filed by any lawmaker.