Emergency Housing Act

Summary

Emergency Housing Act - Title I: Emergency Middle-Income Housing - Authorizes the Secretary of Housing and Urban Development to provide financial assistance with regard to home mortgages for middle-income families: (1) by making, and contracting to make, periodic interest reduction payments; and (2) by purchasing, and committing to purchase, below-market-interest-rate mortgages, through the facilities of the Government National Mortgage Association. Provides that the aggregate amount of mortgages assisted under this title shall not exceed amounts approved in appropriation Acts, and in no event shall such amount exceed $7,500,000,000. Provides that in making financial assistance available under this part, the Secretary shall take appropriate steps to encourage the construction or sale of dwelling units which he determines will contribute to the conservation of land and energy resources because of their design or their location in clusters or projects or otherwise. Title II: Emergency Mortgage Relief Payments - Authorizes the Secretary of Housing and Urban Development to make repayable emergency mortgage relief payments on behalf of homeowners who are delinquent in their mortgage payments. Authorizes to be appropriated for purposes of this title up to $250,000,000. Directs the Secretary to report to the Congress concerning specified characteristics of the housing market.

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1 official file

• Introduced in House

  summary · EN · 25 June 1975

  Open at official source

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