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.

Purpose:

As of 08/03/2015 the purpose for this amendment has not been received.