HR 15627 · 93th Congress · Housing and Community Development

A bill to amend section 235 of the National Housing Act to provide that increases in a mortgagor's income shall be taken into account (for purposes of determining the amount of his required mortgage payment under the program of homeownership for lower income families) only to the extent that they exceed increases in the cost of living.

Introduced 1974-06-26· Sponsored by Rep. Duncan, John J. [R-TN-2]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Banking and Currency.(1974-06-26)

Plain Language Summary

[AI summary unavailable — showing source text] Provides that increases in a mortgagor's income shall be taken into account (for purposes of determining the amount of his required mortgage payment under the program of homeownership under the National Housing Act for lower income families) only to the extent that they exceed increases in the cost of living.…

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