Truth in Housing Act

[AI summary unavailable — showing source text] Truth in Housing Act - Provides that any person who sells or acts as an agent in the sale of or who furnishes mortgage credit for the purchase of a dwelling for occupancy by not more than four families shall be responsible for the written disclosure, in such form as the Federal Trade Commission may require, to the purchaser of the dwelling of any substantial defects which exist as of the date of the disclosure. States that contracts for the purchase of a dwelling for occupancy by not more than four families, where the written disclosure required by this section has not been made to the purchaser in advance or at the time of his signing, shall be voidable at the option of the purchaser. Stipulates that if any part of a written disclosure contains an untrue statement of a material fact or fails to state a material fact required to be stated therein, the purchaser acquiring the dwelling covered by such written disclosure (unless he knew of such untruth or omission at the time of closing) may bring an action in any court of competent jurisdiction, against the seller or his agent in the sale, and the person who furnished mortgage credit for the purchase of that dwelling. States that in …