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HR 3134 115th Congress House

Transforming Student Debt to Home Equity Act of 2017

Official title: To direct the Secretary of the Department of Housing and Urban Development and the Director of the Federal Housing Finance Agency to develop a program to provi… Show full official titleShow less

Official title: To direct the Secretary of the Department of Housing and Urban Development and the Director of the Federal Housing Finance Agency to develop a program to provide assistance to creditworthy borrowers with Federal student debt in purchasing certain foreclosed homes.

Introduced: June 29, 2017 Introduced by: Kaptur, Marcy Democratic · Ohio See on congress.gov
Housing and Community Development Accounting and auditingHigher educationHousing and community development fundingHousing finance and home ownershipStudent aid and college costs
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This bill died when the 115th Congress ended
It never became law before the 115th Congress (2017–2018) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 29, 2017
Referred to the House Committee on Financial Services.
Jun 29, 2017
Sponsor introductory remarks on measure. (CR H5357, E931)
Jun 29, 2017
Introduced in House
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 Latest action June 29, 2017

Referred to the House Committee on Financial Services.

 Plain-English summary Congressional Research Service

Transforming Student Debt to Home Equity Act of 2017

This bill requires the Department of Housing and Urban Development (HUD) and the Federal Housing Finance Agency to jointly establish and implement a pilot demonstration program to provide, to eligible applicants with federal student loan debt, assistance in purchasing eligible properties. Specifically, the program may provide for: (1) discounts on the appraised value of eligible properties, (2) flexibility in certain underwriting standards, (3) the development of new mortgage products specifically targeted to eligible applicants, (4) the development of a program that uses actuarial information to determine how the repayment of federal student loans may be integrated into a mortgage repayment schedule to allow eligible applicants to accumulate home equity, and (5) other appropriate assistance.

An "eligible property" is a property: (1) that is designed as a dwelling for occupancy by one to four families; (2) that is safe and habitable; (3) the occupancy of which will promote community revitalization; and (4) that is owned by HUD, the Federal National Mortgage Association (Fannie Mae), or the Federal Home Loan Mortgage Corporation (Freddie Mac).

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 4
All 4 Democratic 4
D
Beatty, Joyce
Ohio · Sep 12, 2017
 D
Evans, Dwight
Pennsylvania · Jun 29, 2017
 D
Jayapal, Pramila
Washington · Jun 29, 2017
 D
Pingree, Chellie
Maine · Jun 29, 2017
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 3134: Transforming Student Debt to Home Equity Act of 2017. 115th Congress. Open America. https://openamerica.io/bill/115-HR-3134/
MLA
"H.R. 3134: Transforming Student Debt to Home Equity Act of 2017." 115th Congress, 2026, Open America, https://openamerica.io/bill/115-HR-3134/.
Bluebook (legal)
H.R. 3134, 115th Cong. (2026), https://openamerica.io/bill/115-HR-3134/.
Markdown link
[H.R. 3134: Transforming Student Debt to Home Equity Act of 2017](https://openamerica.io/bill/115-HR-3134/)
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