Johnson v. United States Department of Housing and Urban Development (Hud), 911 F.2d 1302 (1990)

Citation: Johnson v. United States Department of Housing and Urban Development (Hud), 911 F.2d 1302 (1990)
Parent Document: Johnson v. United States Department of Housing and Urban Development (Hud), 911 F.2d 1302 (1990)
Jurisdiction: United States (federal)
Effective Date: 1990-10-29
Original Source: https://www.courtlistener.com/opinion/546951/johnson-v-united-states-departme... ↗

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Title II contains provisions relating to emergency low-income housing preservation including the extension of the prepayment moratorium until September 30, 1990, applies the prepayment requirements to the voluntary termination of insurance, prohibits prepayment of rural housing loans and provides equity takeout incentives for new rural housing loans. We always intended that the 1987 Preservation Act was applicable to any termination of low-income occupancy use restrictions, by whatever means, including the termination of mortgage insurance, changes in the regulatory agreement or prepayment of the mortgage. We are aware that several such terminations have occurred and it is the Congress' position that they are contrary to the act. This amendment was necessary only to clarify what was intended by the passage of the original 1987 Housing Act.

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