3.0.0 5649 2019-11-15T20:55:40Z 2019-11-15T20:55:40Z House H HR 2008-03-14 110 hsba00 Financial Services Committee House Standing Referred to 2008-03-14T14:02:35Z 2008-03-14 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2008-03-14 Introduced in House IntroReferral Intro-H 9 Library of Congress 2008-03-14 Introduced in House IntroReferral 1000 9 Library of Congress K000360 Rep. Kirk, Mark Steven [R-IL-10] MARK KIRK R IL STEVEN 10 N Housing and Community Development Bonds Economics and Public Finance Finance and Financial Sector Foreclosure Government Operations and Politics Government corporations Government lending Housing finance Interest Liens Mortgages Property tax Secondary mortgage market Taxation Housing and Community Development 00 2008-03-14 Introduced in House 2008-05-12T21:15:06Z Home Owners' Loan Corporation for the 21st Century Act - Establishes the Home Owners' Loan Corporation as an instrumentality of the United States.

Authorizes the Corporation to: (1) acquire, in exchange for bonds and subject to specified limitations, home mortgages, obligations, and liens secured by real estate (mortgage relief); and (2) make cash advances to pay the taxes and assessments on the real estate, provide for maintenance, meet incidental transaction expenses, and pay the mortgage, obligation, or lien holder the difference (not to exceed $200) between the face value of the bonds exchanged, plus accrued interest, and the purchase price of the mortgage, obligation, or lien.

Requires the homeowner to make mortgage payments to the Corporation. Sets forth 40-year amortization requirements. Authorizes the Corporation to exchange bonds and make cash advances to redeem or recover homes lost by the owners by foreclosure or forced sale.

]]> Home Owners' Loan Corporation for the 21st Century Act Short Titles as Introduced Home Owners' Loan Corporation for the 21st Century Act Display Title Home Owners' Loan Corporation for the 21st Century Act Official Title as Introduced To establish the Home Owners' Loan Corporation to provide emergency home mortgage relief. Introduced in House 2008-03-14T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110hr5649ih/xml/BILLS-110hr5649ih.xml 2008-03-14 Referred to the House Committee on Financial Services. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.