Repossession and Collections Moratoriums Included in Full Heroes Act Legislation – Congress Pulls a “Bait and Switch”

In the formal release of the “Heroes Act” stimulus Package, Congress slipped in elements of the Waters Bill including a moratorium on repossessions, collections, foreclosures and a number of additional collections activity. These elements were conspicuously absent on the first released “Title-By-Title Summary” and were seen by most, myself included, as being a sign that they had recognized this as a poison pill with no chance of passing.

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