The Housing Loan Repayment Act would let owners of low‑cost or socialized housing loans that are at least six months behind pay back their loans over up to 30 years, with no down‑payment, lower processing fees, and interest rates that range from 6 % to 10.5 % (or 3 % for community mortgage loans and 0 % for relocation loans). The program can be used only once, and an inter‑agency committee must issue detailed rules within 60 days after the law takes effect.
Automated summary by BatasWatch. It may miss nuance — read the bill text before citing it.
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HB06653 · Sources: BatasWatch
Similar in what they’d do, filed by any lawmaker.