California Codes, Civil Code - CIV, Division 3 — Obligations, Part 4 — Obligations Arising from Particular Transactions, Title 19.1 — Mortgage Forbearance Act, Section 3273.24

(a) A mortgage servicer shall disclose to a borrower to whom a forbearance has been granted pursuant to Section 3273.23 that the forborne mortgage payments are required to be repaid.

(b) The disclosure required by subdivision (a) is only required to be furnished to the borrower once at the beginning of the forbearance period.

(c) A lump sum payment shall not be required for a borrower who was current on the residential mortgage loan when the borrower entered forbearance.

Notes

Requires a mortgage servicer to tell a borrower granted the specified forbearance that the deferred mortgage payments must be repaid, with the disclosure required once at the beginning of the forbearance period. Prohibits requiring repayment as a lump sum when the borrower was current on the residential mortgage loan upon entering forbearance.

Use as reference

Lexinter.net | California Code, Civil Code - CIV § 3273.24 | https://laws.lexinter.net/codes/california/civil-code/division-3/part-4/title-19-1/section-3273-24

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