Section 235 of the National Housing Act

摘要

Sec. 235. (a) (1). For the purpose of assisting lowerincome families in acquiring homeowner-ship or in acquiring membership in a cooperative association operating a housing project, the Secretary is authorized to make, and to contract to make, periodic assistance payments on behalf of such homeowners and cooperative members. The assistance shall be accomplished through payments to mortgagees holding mortgages meeting the special requirements specified in this section or which mortgages are assisted under a State or local program providing assistance through loans, loan insurance or tax abatement. In making such assistance available, the Secretary shall give preference to lowincome families who, without such assistance, would be likely to be involuntarily displaced (including those who would be likely to be displaced from rental units which are to be converted into a condominium project or cooperative project). Such assistance may include the acquisition of a condominium or a membership in a cooperative association.