To amend section 235 of the National Housing Act to provide for the refinancing of mortgages, loans, and advances of credit for which assistance payments are provided under the lower income homeownership program.
Lower Income Homeownership Refinancing Act - Amends the National Housing Act to direct the Secretary of Housing and Urban Development to periodically review lower income homeownership assistance contracts to determine whether a mortgage, loan, or credit advance should be refinanced.
Directs the Secretary to provide specified financial assistance to encourage such refinancing.
Authorizes appropriations.
Introduced in House
Introduced in House
Referred to the House Committee on Banking, Finance + Urban Affrs.
Referred to the Subcommittee on Housing and Community Development.
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