HR 9814
Rural Homeownership Continuity Act of 2024
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Bill overview
This bill, the Rural Homeownership Continuity Act of 2024, aims to make it easier for homeowners in rural areas to transfer their mortgages through assumption. Currently, the process for assuming a Section 502 loan is limited. This legislation would establish a clear rule-making process allowing qualified borrowers to take over existing mortgages when selling their homes, and relieving the original borrower of their debt obligations.
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Primary sponsor
Cosponsors
Becca [D-VT-At Large] Balint
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