A bill to amend the Housing Act of 1949 to permit the assumption of loans under the Doug Bereuter Section 502 Single Family Housing Loan Guarantee Program.

Bill 118 s 4971, also known as the "Doug Bereuter Section 502 Single Family Housing Loan Guarantee Program Amendment Act," aims to make changes to the Housing Act of 1949. Specifically, this bill seeks to allow for the assumption of loans under the Doug Bereuter Section 502 Single Family Housing Loan Guarantee Program.

The Doug Bereuter Section 502 Single Family Housing Loan Guarantee Program is a government program that provides loan guarantees to help low and moderate-income individuals and families purchase homes. By allowing for the assumption of loans under this program, the bill aims to make it easier for individuals to take over existing loans and continue making payments on them.

This amendment to the Housing Act of 1949 is intended to streamline the process for individuals looking to purchase homes through the Doug Bereuter Section 502 program. By allowing for the assumption of loans, the bill aims to make homeownership more accessible and affordable for those in need of assistance. Overall, Bill 118 s 4971 seeks to improve the efficiency and effectiveness of the Doug Bereuter Section 502 Single Family Housing Loan Guarantee Program by allowing for the assumption of loans, ultimately helping more individuals and families achieve the dream of homeownership.