Summary: S.3905 — 93rd Congress (1973-1974)All Information (Except Text)

There is one summary for S.3905. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (08/13/1974)

Provides, under the Consolidated Farm and Rural Development Act, that the Secretary of Agriculture may guarantee a loan made by an approved lender without regard to the limitation and prohibitions in such Act if such loan is secured by a second mortgage on real estate and the total principal indebtedness outstanding against such real estate, if such second mortgage is taken, does not exceed 85 percent of its appraised value.