Young Families Housing Act of 1977: Hearing Before the Committee on Banking, Housing, and Urban Affairs, United States Senate, Ninety-fifth Congress, First Session, on S. 664 ... S. 1078 ... March 31 and April 1, 1977

Front Cover
U.S. Government Printing Office, 1977 - Mortgage guarantee insurance - 412 pages
0 Reviews
 

What people are saying - Write a review

We haven't found any reviews in the usual places.

Other editions - View all

Common terms and phrases

Popular passages

Page 122 - ... secondary market rate in effect for the month in which the mortgage was executed. Under each program the home owner would be required to execute a second mortgage, in favor of the United States, pledging repayment of the assistance payments made on his behalf by GNMA. This second mortgage would be due at the time the property is transferred or the mortgage retired, whichever occurs first. In the event of a sale or other disposition, the amount the home owner would be required to repay could not...
Page 125 - lower- income families" means those families whose incomes do not exceed 80 per centum of the median income for the area, as determined by the Secretary with adjustments for smaller and larger families...
Page 299 - Alabama. Nebraska. Arizona. Nevada. Arkansas. New Hampshire. California. New Jersey. Colorado. New Mexico. Connecticut. New York. Delaware. North Carolina. District of Columbia. North Dakota. Florida.
Page 230 - The assets of the trust will not be commingled with other property except in a common trust fund or common investment fund.
Page 56 - Sec. 124. Limited exclusion of certain capital gains. "Sec. 125. Cross references to other Acts.".
Page 48 - EXCESS CONTRIBUTIONS RETURNED BEFORE DUE DATE OF RETURN. — Paragraph (1) does not apply to the distribution of any contribution paid during a taxable year to an individual retirement account or for an individual retirement annuity...
Page 112 - Commission re-emphasized the national goal of "a decent home and a suitable living environment for every American family.
Page 303 - Chairman and gentlemen of the committee, I appreciate the opportunity to appear before you and present the views of the Farm Credit Administration on S.
Page 385 - For a purchaser of the median new house, annual subsidy cost would have been almost double at $1,126 with "tandem" cost of about $9,650. And, of course, the costs would have to increase further to compensate for future declines in incomes relative to housing costs if those were to occur. It is highly notable that current Section 235 and recent "tandem" programs were not to be used for existing houses (except substantially rehabilitated houses under Section 235). This increases their value as contributors...
Page 52 - ... (1) the custodial account or annuity contract would, except for the fact that it is not a trust, constitute a qualified trust under this section...

Bibliographic information