§ 1701l. Limitation on interest rates of insured mortgages; terms of sales
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/usc/title-12/section-1701lA research copy — for the controlling text, always check the official state or federal source. Not legal advice.
It is the intent of Congress that no sale of a dwelling on which a mortgage is insured under the National Housing Act, as amended [12 U.S.C. 1701 et seq.], shall be financed, while such mortgage is so insured, at an interest rate higher than that prescribed by the Secretary of Housing and Urban Development. It is the further intent of Congress that no such sale shall be made, while such mortgage is so insured, on terms less favorable to the purchaser as to amortization, retirement, foreclosure, or forfeiture than those contained in such mortgage.
(Apr. 20, 1950, ch. 94, title V, § 508, 64 Stat. 81; Pub. L. 90–19, § 8(e), May 25, 1967, 81 Stat. 22.)
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- Apr. 20, 1950, ch. 94
- 64 Stat. 81
- Pub. L. 90–19, § 8(e)
- 81 Stat. 22
- act June 27, 1934, ch. 847
- 48 Stat. 1246
- Pub. L. 90–19
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§ 1701l
Limitation on interest rates of insured mortgages; terms of sales
Stat. Comp.×1
ActApr. 20, 1950, ch. 94
Stat.64 Stat. 81
Pub. L.Pub. L. 90–19, § 8(e)
Stat.81 Stat. 22
Actact June 27, 1934, ch. 847
Cites 8 · showing 6Cited by 1 across 1 source