Lower Income Homeownership Improvement Act

Summary

Lower Income Homeownerhip Improvement Act - Amends the National Housing Act to require the Secretary of Housing and Urban Development to review lower-income mortgage assistance contracts and, if a contract's interest rate exceeds current rates on similar mortgages by more than three percentage points, the Secretary shall notify the homeowner that: (1) he or she should attempt to refinance; and (2) the Secretary will reimburse reasonable refinancing costs.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 23 September 1987

   Introduced

   Referred to House Committee on Banking, Finance and Urban Affairs.

   Source: IntroReferral

2. 23 September 1987

   Introduced

   Introduced in House

   Source: IntroReferral

3. 23 September 1987

   Introduced

   Introduced in House

   Source: IntroReferral

4. 1 October 1987

   Referred

   Referred to Subcommittee on Housing and Community Development.

   Source: Committee

Votes

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Versions

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Documents

1 official file

• Introduced in House

  summary · EN · 23 September 1987

  Open at official source

Sponsors

• Rep. Stark, Fortney Pete [D-CA-13] · D · Sponsor
• · hsba00 · Standing

Related records

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