H.R.2034 - Rural Homeowners Protection Act of 2009111th Congress (2009-2010)
|Sponsor:||Rep. Clay, Wm. Lacy [D-MO-1] (Introduced 04/22/2009)|
|Committees:||House - Financial Services | Senate - Banking, Housing, and Urban Affairs|
|Latest Action:||07/30/2009 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (All Actions)|
This bill has the status Passed House
Here are the steps for Status of Legislation:
- Passed House
Summary: H.R.2034 — 111th Congress (2009-2010)All Bill Information (Except Text)
Passed House without amendment (07/29/2009)
(This measure has not been amended since it was introduced. The summary of that version is repeated here.)
Rural Homeowners Protection Act of 2009 - Amends the Doug Bereuter Section 502 Single Family Housing Loan Guarantee Act and the Housing Act of 1949 to: (1) increase from 1% to 2% the guarantee fee on loans for housing and buildings on adequate farms; and (2) authorize the Secretary of Agriculture to guarantee a loan made to refinance one made by a private lender to an individual to acquire or construct a single-family residence located in a rural area.
Requires the Secretary to charge a guarantee fee for refinancing such a loan at levels necessary, but no higher than needed, to allow such class of loans to be guaranteed without resulting in a need for an appropriation for a credit subsidy.