SB1430: Closure of the U.S. government; civil relief for furloughed employees and contractors.

Legislative Summary

Military and emergency laws; closure of United States government; civil relief for furloughed employees and contractors; emergency. Extends from 30 days to 60 days the stay of a foreclosure proceeding on any mortgage or the execution of or sale under any deed of trust for any (i) homeowner who defaults on a note that is secured by a one-family to four-family residential property or (ii) owner who rents a one-family to four-family residential dwelling unit who defaults on a note that is secured by such property after the commencement of a closure of the United States government. The bill also removes from the definition of "closure of the United States government" the requirement that such closure be for a period of 14 consecutive days or longer. The bill contains an emergency clause.