Multifamily Housing Restructuring and Affordability Act of 1997

[AI summary unavailable — showing source text] TABLE OF CONTENTS: Title I: FHA-Insured Multifamily Housing Mortgage and Housing Assistance Restructuring Subtitle A: Restructuring of Assistance Subtitle B: Office of Multifamily Housing Assistance Restructuring Subtitle C: Contracts Expiring After Termination of Program Title II: Miscellaneous Provisions Title III: Enforcement Provisions Subtitle A: FHA Single Family and Multifamily Housing Subtitle B: FHA Multifamily Provisions Multifamily Housing Restructuring and Affordability Act of 1997 - Title I: FHA-Insured Multifamily Housing Mortgage and Housing Assistance Restructuring - Subtitle A: Restructuring of Assistance - Requires the Director (Director) of the Office of Multifamily Housing Assistance Restructuring (established by this Act) to enter into mortgage and rental assistance portfolio restructuring agreements with participating multifamily housing administrative entities (entities) in order to: (1) reduce expiring section 8 contract costs; (2) address troubled projects; and (3) correct management and ownership problems. (Sec. 112) Requires the Director to develop mortgage restructuring and rental assistance sufficiency plans (plan) for the entities of eligible multifami…