An amendment to add a new title, Title VI, Guaranteed Loan Demonstration Program. The amendment permits the Secretary to insure loans made by State housing finance agencies or private lenders. Interest subsidies may be provided to borrowers whose incomes does not exceed 130 percent of the median income of the area involved. When the property is sold the borrower must repay the interest subsidies. And, the amendment provides $100,000,000 to carry out the demonstration program.

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Amendment Number
227
Description
An amendment to add a new title, Title VI, Guaranteed Loan Demonstration Program. The amendment permits the Secretary to insure loans made by State housing finance agencies or private lenders. Interest subsidies may be provided to borrowers whose incomes does not exceed 130 percent of the median income of the area involved. When the property is sold the borrower must repay the interest subsidies. And, the amendment provides $100,000,000 to carry out the demonstration program.
Congress
98
Type
HAMDT
Latest Action Date
Jul 13, 1983
Latest Action Text
Amendment Passed in Committee of the Whole by Voice Vote.
Submitted Date
Jul 13, 1983
Chamber
House of Representatives
Update Date
Jun 30, 2021
Amendment 227 — Informed