Article archive
08/30/2008 12:00
Sections Explained: Summary
Overview of Program
The plan combines large tax breaks for homebuilders and a $7,500 tax credit for peoplewho buy foreclosed properties, as well as $4 billion in grants for communities to buy and fix up abandoned homes. Help families keep their homes by increasing pre-foreclosure...
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08/30/2008 11:56
Sections Explained: (Sec. 112)
SECTION: 112
MAXIMUM PRINCIPAL LOAN
OBLIGATION
`(A) not to exceed the lesser of--
`(i) in the case of a 1-family residence, 110 percent of the median 1-family house price in the area, as determined by the Secretary; and in the case of a 2-, 3-, or 4-family residence, the percentage of...
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08/30/2008 11:49
Sections Explained: (Sec. 113)
SECTION: 113
SELLER-FUNDED
DOWNPAYMENT ASSISTANCE
SEC. 113. CASH INVESTMENT REQUIREMENT AND PROHIBITION OF SELLER-FUNDED DOWNPAYMENT ASSISTANCE.
Paragraph 9 of section 203(b) of the National Housing Act (12 U.S.C. 1709(b)(9)) is amended to read as follows:
(9) CASH...
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08/30/2008 11:44
Sections Explained: (Sec. 114)
SECTION:114
MORTGAGE INSURANCE PREMIUMS
REHABILITATION LOANS
DISCRETIONARY ACTION
MORTGAGE INSURANCE PREMIUMS.
Section 203(c)(2) of the National Housing Act (12 U.S.C. 1709(c)(2)) is amended--
(1) in the matter preceding subparagraph (A), by striking `or of the General Insurance...
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08/30/2008 11:38
Sections Explained: (Sec. 115)
SECTION: 115
MORTGAGE INSURANCE PREMIUMS
REHABILITATION LOANS
DISCRETIONARY ACTION
MORTGAGE INSURANCE PREMIUMS.
Section 203(c)(2) of the National Housing Act (12 U.S.C. 1709(c)(2)) is amended--
(1) in the matter preceding subparagraph (A), by striking `or of the General Insurance Fund' and...
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08/30/2008 11:31
Sections Explained: (Sec. 116)
SECTION: 116
MORTGAGE INSURANCE PREMIUMS
REHABILITATION LOANS
DISCRETIONARY ACTION
MORTGAGE INSURANCE PREMIUMS.
Section 203(c)(2) of the National Housing Act (12 U.S.C. 1709(c)(2)) is amended--
(1) in the matter preceding subparagraph (A), by striking `or of the General...
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08/30/2008 11:27
Sections Explained: (Sec. 117)
SECTION: 117
Sections 117-121
SEC. 117. INSURANCE OF CONDOMINIUMS.
(a) In General- Section 234 of the National Housing Act (12 U.S.C. 1715y) is amended-- (1) in subsection (c), in the first sentence-- (A) by striking `and' before `(2)'; and (B) by inserting before the period at the end...
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08/30/2008 11:22
Sections Explained: (Sec. 118)
SECTION: 118
Sections 117-121
SEC. 117. INSURANCE OF CONDOMINIUMS.
(a) In General- Section 234 of the National Housing Act (12 U.S.C. 1715y) is amended-- (1) in subsection (c), in the first sentence-- (A) by striking `and' before `(2)'; and (B) by inserting before the period at the end...
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08/30/2008 11:10
Sections Explained: (Sec. 119)
Sections 117-121
SEC. 117. INSURANCE OF CONDOMINIUMS.
(a) In General- Section 234 of the National Housing Act (12 U.S.C. 1715y) is amended-- (1) in subsection (c), in the first sentence-- (A) by striking `and' before `(2)'; and (B) by inserting before the period at the end the following: `,...
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08/30/2008 10:49
Sections Explained: (Sec. 121)
SECTION: 121
Sections 117-121
SEC. 117. INSURANCE OF CONDOMINIUMS.
(a) In General- Section 234 of the National Housing Act (12 U.S.C. 1715y) is amended-- (1) in subsection (c), in the first sentence-- (A) by striking `and' before `(2)'; and (B) by inserting before the period at the end...
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