NAR Letter to Representative Luetkemeyer Supporting HR 3700 - Housing Opportunities through Modernization Act
Issue Date: October 12, 2015
US HR 3700 - Housing Opportunities through Modernization Act
On October 12, 2015 NAR sent a letter to Subcommittee on Housing and Insurance Chairman, Blaine Luetkemeyer and cc’ing the Full House Financial Services Committee. The letter expresses NAR’s ssupport for H.R. 3700, specifically Section III of the bill which is designed to ease restrictions on the purchase of condominiums with FHA mortgage insurance. NAR also supports Section II of the bill, regarding rural housing. Nearly 20 percent of the U.S. population lives in rural areas or small towns. Finding safe affordable housing remains a challenge in these areas, where rental housing is often lacking and access to mortgage financing can be challenging.