H.R.2388 - Rural Housing Improvement Act of 1989101st Congress (1989-1990)
|Sponsor:||Rep. McDade, Joseph M. [R-PA-10] (Introduced 05/17/1989)|
|Committees:||House - Banking, Finance, and Urban Affairs; Agriculture|
|Latest Action:||House - 06/01/1989 Referred to the Subcommittee on Housing and Community Development. (All Actions)|
This bill has the status Introduced
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Summary: H.R.2388 — 101st Congress (1989-1990)All Information (Except Text)
Introduced in House (05/17/1989)
Rural Housing Improvement Act of 1989 - Title I: Rural Housing Loan Guarantees - Amends the Housing Act of 1949 to establish a guaranteed loan program for moderate income rural borrowers to acquire or rehabilitate single-family homes. Gives priority to first-time homebuyers.
Provides for: (1) lender guarantee fees; (2) loan refinancing; (3) nonassumption of loans; and (4) geographic loan targeting.
Title II: Agricultural Mortgage Secondary Market - Amends the Farm Credit Act of 1971 to expand the definition of "agricultural real estate" for purposes of the agricultural mortgage secondary market.
Title III: Technical Assistance - Provides technical assistance for the programs under titles I and II of this Act. Authorizes appropriations.