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HR 7388 97th Congress House

Real Dollar Mortgage Demonstration Act of 1982

Official title: A bill to authorize the Department of Housing and Urban Development to insure and otherwise promote the use of mortgage instruments with monthly payments and l… Show full official titleShow less

Official title: A bill to authorize the Department of Housing and Urban Development to insure and otherwise promote the use of mortgage instruments with monthly payments and loan balances that are adjusted to reflect changes in a selected index which measures the rate of inflation or the rate of change in wages or consumer disposable income.

Introduced: December 8, 1982 Introduced by: Schumer, Charles E. Democratic · New York See on congress.gov
Housing and Community Development Cost of living adjustmentsHousing and Housing FinanceMortgage guaranty insuranceMortgagesWages
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This bill died when the 97th Congress ended
It never became law before the 97th Congress (1981–1982) 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 7 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 8, 1982
Referred to Subcommittee on Housing and Community Development.
Dec 8, 1982
Referred to House Committee on Banking, Finance and Urban Affairs.
Dec 8, 1982
Passed House by Voice Vote.
Dec 8, 1982
Passed/agreed to in House: Passed House by Voice Vote.
Dec 8, 1982
Called up by House by Unanimous Consent.
Dec 8, 1982
House Committee on Banking, Finance and Urban Affairs Discharged by Unanimous Consent.
Dec 8, 1982
Introduced in House
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 Latest action December 8, 1982

Referred to Subcommittee on Housing and Community Development.

 Plain-English summary Congressional Research Service

Real Dollar Mortgage Demonstration Act of 1982 - Amends the National Housing Act to authorize the Secretary of Housing and Urban Development to insure mortgages and loans with monthly payments and loan balances that are adjusted to reflect changes in a selected index which measures the inflation rate or changes in wages or consumer disposable income.

Requires the Secretary to insure such a loan or mortgage upon determining that: (1) the principal obligation of the mortgage or loan does not exceed a specified percentage of the appraised value of the attached property; and (2) the monthly payments and principal obligation of the loan or mortgage will not be increased at a rate greater than the percentage change in the selected index. Directs the Secretary to give priority to such mortgages executed by mortgagors who have not owned a home in the preceding three years.

Directs the Secretary to conduct and report to Congress on a demonstration program to insure such loans and mortgages.

 Committees of jurisdiction 2
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APA
U.S. Congress. (2026). H.R. 7388: Real Dollar Mortgage Demonstration Act of 1982. 97th Congress. Open America. https://openamerica.io/bill/97-HR-7388/
MLA
"H.R. 7388: Real Dollar Mortgage Demonstration Act of 1982." 97th Congress, 2026, Open America, https://openamerica.io/bill/97-HR-7388/.
Bluebook (legal)
H.R. 7388, 97th Cong. (2026), https://openamerica.io/bill/97-HR-7388/.
Markdown link
[H.R. 7388: Real Dollar Mortgage Demonstration Act of 1982](https://openamerica.io/bill/97-HR-7388/)
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