PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the House Committee on Financial Services.
Congressional Research Service
Version 00 · Introduced in House · Feb 25, 2008
Affordable Homeownership Preservation Fund Act of 2008 - Amends the Neighborhood Reinvestment Corporation Act to establish in the Treasury an Affordable Homeownership Preservation Fund to allow the Neighborhood Reinvestment Corporation, doing business as Neighborworks America, to provide financial assistance through grants to community development organizations for eligible activities to enhance and improve the availability of affordable housing.
Requires such eligible activities to be: (1) carried out in accordance with the comprehensive strategic plan for the organization submitted under this Act; and (2) consistent with existing economic, community, and housing development plans adopted by or applicable to the area or targeted population served by the organization.
Allows such activities to include: (1) assisting distressed homeowners with small low-interest or no-interest loans; (2) making mortgage loans to first-time homebuyers; and (3) purchasing, rehabilitating, and selling foreclosed properties for owner-occupancy.
People & committees
Rep. Sanchez, Loretta [D-CA-47] · D–CA
Legislative record
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Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
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Source last updated: Aug 14, 2025. Consult Congress.gov for the current record.
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