HR 5525 · 100th Congress · Housing and Community Development

Affordable Family Home Mortgage Act of 1988

Introduced 1988-10-13· Sponsored by Rep. Johnson, Nancy L. [R-CT-6]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to Subcommittee on Housing and Community Development.(1988-10-21)

Plain Language Summary

[AI summary unavailable — showing source text] Affordable Family Home Mortgage Act of 1988 - Permits eligible first-time homebuyers to enter into an agreement with a qualified lending institution to transfer their mortgage interest tax benefits to such lender for the first five years of the mortgage. Amends the Internal Revenue Code to permit a five-year transfer of the amount of mortgage interest deduction from an eligible first-time homebuyer to a qualifying lending institution.…

Summarized by Claude AI · Non-partisan · For informational purposes only