H.R. 5487 · 110th Congress
Affordable Homeownership Preservation Fund Act of 2008
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Never voted on. It didn't reach a floor vote before the 110th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
SanchezSponsor1 cosponsor · 1 D
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Affordable Homeownership Preservation Fund Act of 2008 - Amends the Neighborhood Reinvestment Corporation Act to establish in the Treasury an Affordable Homeownership Preservation Fund to allow the Neighborhood Reinvestment Corporation, doing business as Neighborworks America, to provide financial assistance through grants to community development…
What it does: CRS summary · Introduced in House · Feb 25, 2008
Affordable Homeownership Preservation Fund Act of 2008 - Amends the Neighborhood Reinvestment Corporation Act to establish in the Treasury an Affordable Homeownership Preservation Fund to allow the Neighborhood Reinvestment Corporation, doing business as Neighborworks America, to provide financial assistance through grants to community development organizations for eligible activities to enhance and improve the availability of affordable housing.
Requires such eligible activities to be: (1) carried out in accordance with the comprehensive strategic plan for the organization submitted under this Act; and (2) consistent with existing economic, community, and housing development plans adopted by or applicable to the area or targeted population served by the organization.
Allows such activities to include: (1) assisting distressed homeowners with small low-interest or no-interest loans; (2) making mortgage loans to first-time homebuyers; and (3) purchasing, rehabilitating, and selling foreclosed properties for owner-occupancy.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Affordable Homeownership Preservation Fund Act of 2008
Latest action (Feb 25, 2008): Referred to the House Committee on Financial Services.
Policy area: Housing and Community Development · Origin: House · Introduced: Feb 25, 2008
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.