A bill to amend section 245 of the National Housing Act to exclude graduated payment mortgages from certain restrictions regarding maximum amount of loan.
Homeownership Opportunity Act of 1979 - Amends the National Housing Act to permit the Secretary of Housing and Urban Development to insure a graduated payment mortgage with a principal amount of up to 100 percent of the appraised value of the property involved.
Introduced in Senate
Referred to Senate Committee on Banking, Housing and Urban Affairs.
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