To establish a pilot program for the Secretary of Housing and Urban Development to evaluate the effectiveness of insuring mortgages made to finance improvements to convert basement spaces into safely habitable dwelling units, and for other purposes.
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Summary
Based on the bill's title, this legislation would direct the Secretary of Housing and Urban Development to establish a pilot program that evaluates whether the Federal Housing Administration should insure mortgages for homeowners financing basement conversions into safe, habitable living spaces. The bill appears designed to test the feasibility and outcomes of using federal mortgage insurance to support this type of home improvement.
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How your representatives voted
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