H.R. 7238 aims to update the Housing Act of 1949 by extending the duration of rural housing site loans from two years to five years. It also clarifies that these loans can be used not just for land development, but also for necessary activities like surveying, architecture,...
Simple Explanation
H.R. 7238 wants to change the rules for loans that help build homes in the countryside. Instead of having to pay back the loan in two years, people will have five years, and they can use the money for planning like drawing house designs or measuring the land.