Home Buyer and Home Owner Protection Act

[AI summary unavailable — showing source text] Home Buyer and Home Owner Protection Act - States that in any case where a mortgage covering property improved by a one- to four-family dwelling is insured under any provision of the National Housing Act and the mortgage is approved for such insurance prior to the beginning of construction, the seller or such other person as may be required by the Secretary shall deliver to the mortgagor a warranty that the dwelling is constructed in substantial conformity with the plans and specifications on which the Secretary based his valuation of the dwelling, and has no structural or other defects which could seriously affect the use and livability of the dwelling. States that the warranty required by this Act shall be in addition to, and not in derogation of, all other rights and privileges which the mortgagor may have under any other law or instrument. Provides that if the owner of any property which is improved by a one- to four-family dwelling covered by a mortgage insured under any provision of this Act requests assistance from the Secretary within five years after the insurance of the mortgage, the Secretary is authorized: (1) to correct structural defects in any such property or any ot…