Summary: H.R.2034 — 111th Congress (2009-2010)All Information (Except Text)

Bill summaries are authored by CRS.

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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.