HOUSING ACT OF 1950: Secs. 505 (right of redemption on FHA loans) and 508 (resales of FHA-financed housing)
Chapter 94 of the 81st Congress, as amended
HOUSING ACT OF 1950: Secs. 505 (right of redemption on FHA loans) and 508 (resales of FHA-financed housing)
ch94
115–141
Statute Compilation
United States House of Representatives
Office of the Legislative Counsel
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.
GPO Statute Compilations USLM converter, version 20210527.1
2021-10-15
Housing Act of 1950
5181
81
1950-04-20
HOUSING ACT OF 1950: Secs. 505 (right of redemption on FHA loans) and 508 (resales of FHA-financed housing)
[Chapter 94 of the 81st Congress; 64 Stat. 81; Approved April 20, 1950; 12 U.S.C. 1701k, 1701l]
[As Amended Through P.L. 115–141, Enacted March 23, 2018]
[Currency: This publication is a compilation of the text of sections 505 and 508 of Chapter 94 of the 81st Congress. It was last amended by the public law listed in the As Amended Through note above and below at the bottom of each page of the pdf version and reflects current law through the date of the enactment of the public law listed at https://www.govinfo.gov/app/collection/comps/]
[Note: While this publication does not represent an official version of any Federal statute, substantial efforts have been made to ensure the accuracy of its contents. The official version of Federal law is found in the United States Statutes at Large and in the United States Code. The legal effect to be given to the Statutes at Large and the United States Code is established by statute (1 U.S.C. 112, 204).]
<num style="-uslm-dtd:enum" value="V">TITLE V—</num><heading style="-uslm-dtd:header">MISCELLANEOUS PROVISIONS </heading>
<elided style="-uslm-dtd:omitted-text">* * * * * * *</elided>
<section style="-uslm-dtd:section" identifier="/us/sComp/81/475/tV/s505" styleType="traditional-inline">
<num style="-uslm-dtd:enum" value="505">Sec. 505. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t12/s1701k">12 U.S.C. 1701k</ref><b>]</b> </editorialNote><content style="-uslm-dtd:text">The right to redeem provided for by title 28, United States Code, section 2410(c), shall not arise in any case in which the subordinate lien or interest of the United States derives from the issuance of insurance under the National Housing Act, as amended.</content>
<elided style="-uslm-dtd:omitted-text">* * * * * * *</elided>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/81/475/tV/s508" styleType="traditional-inline">
<num style="-uslm-dtd:enum" value="508">Sec. 508. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t12/s1701l">12 U.S.C. 1701l</ref><b>]</b> </editorialNote><content style="-uslm-dtd:text">It is the intent of Congress that no sale of a dwelling on which a mortgage is insured under the National Housing Act, as amended, shall be financed, while such mortgage is so insured, at an interest rate higher than that prescribed by the Secretary of Housing and Urban Development. It is the further intent of Congress that no such sale shall be made, while such mortgage is so insured, on terms less favorable to the purchaser as to amortization, retirement, foreclosure, or forfeiture than those contained in such mortgage.</content>
</section>