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House OKs Bill to Extend FHA

June 24, 1986|Associated Press

WASHINGTON — A bill to revive the Federal Housing Administration, out of business since June 6 during the decade's hottest housing market, received House passage today and was sent to President Reagan for his signature.

The measure, approved on a voice vote, extends the FHA's statutory authority to insure low down payment mortgages until Sept. 30 and adds $9.5 billion to the agency's credit ceiling of $74.4 billion that was reached last week.

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