SECTION 1. Section 35A of chapter 244, as appearing in the 2018 Official Edition, is hereby amended by adding the following 4 subsections:-

(g) to mitigate the adverse financial impacts resulting from the outbreak of the 2019 novel coronavirus, also known as COVID-19, or the effects of the Governor’s March 10, 2020 declaration of a state of emergency, any mortgagor of residential real property located in the commonwealth with a demonstrated financial hardship affecting the ability of the mortgagee to make timely payments shall have a 180-day right to forbear required payments as provided in such residential mortgage or note secured by such residential real property, with the payments added to the end of the term of the loan.

(h) The mortgagor shall not report such forbearance as late payments to credit rating agencies or assess fees and/or penalties to any mortgagee or deny loan modifications, a new residential or commercial loan/financing, loan refinancing and credit card services based on the inclusion in this forbearance protection.

(i) Within 90 days of the termination of the forbearance, mortgagors shall work with the mortgagees to maintain pre-forbearance monthly payments or enact loan modifications reducing such monthly payments.

(j) A mortgagor shall not initiate foreclosure proceedings against the mortgagee from the date of the emergency declaration issued by the Governor, dated March 10, 2020 and designated as executive order number 591, until 90 days after the emergency declaration is rescinded by the Governor.

SECTION 2. Section 1 shall expire 180 days after termination of the Governor’s March 10, 2020 declaration of a state of emergency.