Housing Act of 1937

  • Date: 1937
  • Also called Wagner-Steagall Act
  • Created the United States Housing Authority within Department of the Interior
  • Lent money for low-cost construction to states and localities
  • Tags: federal-housing-policy new-deal

Home Owners' Loan Corporation

  • Date: 1933
  • Refinancing for nonfarm home mortgages in default
    • To prevent foreclosure
  • Borrower offered loan over longer period with lower interest rate
  • HOLC purchased mortgage loans from lenders and refinanced for the borrowers
    • Was favorable for lenders because entire remaining purchase price was bought, plus taxes
  • Tags: fdr federal-housing-policy new-deal

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