3.0.0 2922 2023-01-11T13:18:48Z 2023-01-11T13:18:48Z House H HR 2009-06-17 111 hsba00 Financial Services Committee House Standing Referred to 2009-06-17T14:02:42Z 2009-06-17 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2009-06-17 Introduced in House IntroReferral Intro-H 9 Library of Congress 2009-06-17 Introduced in House IntroReferral 1000 9 Library of Congress F000444 Rep. Flake, Jeff [R-AZ-6] JEFF FLAKE R AZ 6 N Housing and Community Development Government lending and loan guarantees Housing and community development funding Housing finance and home ownership Low- and moderate-income housing Housing and Community Development 00 2009-06-17 Introduced in House 2009-09-21T20:57:31Z Federal Assistance Downpayment Reform Act of 2009 - Amends the Housing Act of 1949 to prohibit the Secretary of Agriculture from making loans for housing and buildings on adequate farms to any borrower or providing any guarantee, under the Doug Bereuter section 502 single family housing loan guarantee program, for any loan to any borrower, unless the borrower has paid, in cash or its equivalent, on account of the property to be acquired or refinanced, at least 3.5% of the property's appraised value or such larger amount as the Secretary may determine. (Thus requires downpayments for rural housing service direct and guaranteed single-family home loan programs).

Amends the Cranston-Gonzalez National Affordable Housing Act to repeal the downpayment assistance initiative that assists low-income families in achieving homeownership.

Amends the Housing and Community Development Act of 1974 to prohibit the use of grants under the Community Development Block Grant (CDBG) program for downpayment assistance on behalf of any family or person for the acquisition of a residence.

Amends the Housing and Economic Recovery Act of 2008 to impose the same prohibition on amounts made available under the Neighborhood Stabilization program.

]]> Federal Assistance Downpayment Reform Act of 2009 Display Title Federal Assistance Downpayment Reform Act of 2009 Official Title as Introduced To establish a downpayment requirement for Rural Housing Service direct and guaranteed single-family home loan programs, to repeal the downpayment assistance initiative under subtitle E of title II of the Cranston-Gonzalez National Affordable Housing Act, and to prohibit use of amounts provided under certain other programs for downpayment assistance. Introduced in House IH Short Titles as Introduced Federal Assistance Downpayment Reform Act of 2009 Introduced in House 2009-06-17T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111hr2922ih/xml/BILLS-111hr2922ih.xml 2009-06-17 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.