To reform the program of the Department of Housing and Urban Development for disposition of single family properties in the inventory of the Department for use for the homeless.
HUD Property Disposition Reform Act - Prohibits the Secretary of Housing and Urban Development from using specified lease options in carrying out the program of disposing of single family properties for use by the homeless.
States that the purchase price of such disposed properties shall be the fair market value less specified discounts depending upon whether the sale is: (1) a mortgage-insured sale or under a lease-option to purchase agreement; or (2) an uninsured sale.
Authorizes sales to private nonprofit organizations under specified conditions.
Introduced in House
Introduced in House
Referred to the House Committee on Banking and Financial Services.
Referred to the Subcommittee on Housing and Community Opportunity.
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