Senior Citizen Home Equity Protection Act
| Date | Chamber | What was voted on | Result | Yes–No | |
|---|---|---|---|---|---|
| Sep 16, 1997 | House · vote #397 | Suspend the rules and Pass, as amended | Passed | 422–1 | See who voted → |
TABLE OF CONTENTS:
Title I: Senior Citizen Home Equity Protection
Title II: Temporary Extension of Public Housing and Section
8 Rental Assistance Provisions
Title III: Reauthorization of Federally Assisted Multifamily
Rental Housing Provisions
Title IV: Reauthorization of Rural Housing Programs
Title V: Reauthorization of National Flood Insurance Program
Housing Programs Extension Act of 1997 - Title I: Senior Citizen Home Equity Protection - Senior Citizen Home Equity Protection Act - Amends the National Housing Act with respect to home equity conversion mortgages to: (1) require full disclosure to the mortgagor of all mortgage costs, including estate planning, financial advice, or other related costs; and (2) provide for the Secretary (Secretary) of Housing and Urban Development (HUD) to impose restrictions to ensure that the mortgagor is not charged for such costs.
(Sec. 103) Provides for implementation of such provisions by the Secretary.
Title II: Temporary Extension of Public Housing and Section 8 Rental Assistance Provisions - Amends the Balanced Budget Downpayment Act, I to extend through FY 1998 provisions regarding public housing ceiling rents, the definition of income adjustments, and repeal of Federal preferences for assisted housing.
(Sec. 202) Amends the Emergency Supplemental Appropriations for Additional Disaster Assistance, for Anti-terrorism Initiatives, for Assistance in the Recovery from the Tragedy that Occurred in Oklahoma City, and Recissions Act, 1995 to extend through FY 1998 the suspension of the public housing demolition and disposition one-for-one replacement requirement.
(Sec. 203) Amends the Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1996 to extend through FY 1998 provisions regarding use of public housing modernization funding for mixed income developments.
(Sec. 204) Amends the Balanced Budget Downpayment Act, I to extend minimum rent provisions through FY 1998.
(Sec. 205) Amends the Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1996 to extend through FY 1998 suspension of certain provisions (take-one-take-all, notice of contract termination, and endless lease) of the section 8 rental assistance program.
Amends the Balanced Budget Downpayment Act, I to extend fair market rental provisions through FY 1998.
Title III: Reauthorization of Federally Assisted Multifamily Rental Housing Provisions - Amends the Housing and Community Development Act of 1992 to increase the number of units and extend through FY 1998 the risk-sharing and housing finance agency multifamily housing finance pilot programs.
(Sec. 302) Amends the Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1997 to state that the Secretary's authority to manage and dispose of multifamily housing includes the provision of grants and loans from the General Insurance Fund.
(Sec. 303) Amends the National Housing Act to: (1) extend multifamily mortgage auction authority through December 31, 2005; and (2) authorize the Secretary to continue to make interest reduction payments on up to $92,000,000 of transferred mortgage loans under the rental or cooperative housing for lower income families program.
(Sec. 305) Amends the Housing and Community Development Amendments of 1978 to authorize the Secretary to provide for the assumption of all regulatory rights and responsibilities in connection with the sale of a HUD-held mortgage.
Title IV: Reauthorization of Rural Housing Programs - Amends the Housing Act of 1949 to extend through FY 1999: (1) set-aside authority for targeted rural underserved areas and colonias, and for rural rental housing funds; (2) loan authority for housing and related facilities for elderly persons and families and other low-income persons and families; and (3) authorization of appropriations for multifamily rural rental housing loan guarantees.
Title V: Reauthorization of National Flood Insurance Program - Amends the National Flood Insurance Act of 1968 to extend through FY 1999 flood insurance program authority, borrowing authority, and emergency implementation authority. Authorizes appropriations through FY 1999 for related studies.
Message on House action received in Senate and at desk:.