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.

Hozzl · 2024-08-02T10:56:42Z

Explore the details of Senate Bill 4971 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. currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on undefined. Stay informed on legislative developments.

8/2/2024, 10:56 AM

Summary of Bill S 4971

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.

Current Status of Bill S 4971

Bill S 4971 is currently in the status of Bill Introduced since August 1, 2024. Bill S 4971 was introduced during Congress 118 and was introduced to the Senate on August 1, 2024. Bill S 4971's most recent activity was Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of August 1, 2024

Bipartisan Support of Bill S 4971

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Policy Area and Potential Impact of Bill S 4971

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Alternate Title(s) of Bill S 4971

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.