H. R. 9814 aims to amend the Housing Act of 1949 by allowing loans under the Doug Bereuter Section 502 Single Family Housing Loan Guarantee Program to be assumed by qualified borrowers. This means that if someone wants to take over a house with a guaranteed loan, there will...
Simple Explanation
H.R. 9814 wants to make it easier for someone to take over a house loan without the first person having to worry about the loan anymore, and the government will set the rules on how this will happen.