H.R. 5884 (112th): Homeownership Preservation Education Act of 2012

Introduced:
Jun 01, 2012 (112th Congress, 2011–2013)
Sponsor:
Rep. Karen Bass [D-CA33]
Status:
Died (Referred to Committee)

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

This bill was introduced on June 1, 2012, in a previous session of Congress, but was not enacted.

Progress
Introduced Jun 01, 2012
Referred to Committee Jun 01, 2012
Cosponsors
2 cosponsors (1R, 1D) (show)
Committees

House Financial Services

The committee chair determines whether a bill will move past the committee stage.

Full Title

To establish a 1-year pilot program to reduce up-front premiums on FHA mortgage insurance for first-time homebuyers who complete a homeownership counseling program and thereby help to reduce default rates on residential mortgages.

Summary

No summaries available.

Text

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Last updated Jun 01, 2012.
4 pages

Primary Source

View on THOMAS (The Library of Congress)

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Citation

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

6/1/2012--Introduced.
Homeownership Preservation Education Act of 2012 - Directs the Secretary of Housing and Urban Development (HUD) to carry out a pilot program to evaluate the effectiveness, in reducing defaults on residential mortgages, of reducing up-front premiums for mortgage insurance made available by the Secretary pursuant to the National Housing Act for first-time homebuyers who complete a homeownership counseling program providing for one-on-one prepurchase counseling.
Requires reduced premiums for mortgages secured by a 1- to 4-family dwelling that is an obligation of the Mutual Mortgage Insurance Fund for a first-time homebuyer who completes a HUD-approved program of counseling on the responsibilities and financial management involved in homeownership that provides for one-on-one prepurchase counseling of the homebuyer by a HUD-approved nonprofit housing counseling agency.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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The bill contains the following citations to other parts of U.S. law:

United States Code

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