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A bill to provide needed housing reform and for other purposes. 5/8/2008--House agreed to Senate amendment with amendment.    (There are 3 other summaries) American Housing Rescue and Foreclosure Prevention Act of 2008 - Title I: FHA Housing Stabilization and Homeownership Retention - FHA Housing Stabilization and Homeownership Retention Act of 2008 - Subtitle A: Homeownership Retention - (Sec. 112) Amends the National Housing Act (NHA) to create the Refinance Program Oversight Board, which shall establish and oversee a program for insuring homeownership retention mortgages. Instructs the Secretary of Housing and Urban Development (HUD) to insure any homeownership retention mortgage covering a one- to four-family residence made to pay or prepay outstanding obligations under an existing mortgage on the residence. Sets forth mortgagor eligibility criteria, including mortgagor certification that: (1) the residence is the only residence [...]

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Latest Actions
  • 07/30/2008 - Signed by President.
  • 07/30/2008 - Became Public Law No: 110-289.
  • 07/29/2008 - Presented to President.
  • 07/28/2008 - Message on Senate action sent to the House.
  • 07/26/2008 - Considered by Senate. (consideration: CR S7487-7506)

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