Title 12 — Banks and BankingRelease 119-73not60
§1701r Congressional Findings Respecting Housing for Senior Citizens
Title 12 › Chapter 13— NATIONAL HOUSING › § 1701r
Summary
Congress says there is a large and growing need for suitable housing for older people in cities and rural areas. Many seniors have low incomes, have trouble getting long-term mortgages, and need homes with safety and convenience features, so Congress calls for expanded federal housing efforts.
Full Legal Text
Title 12, §1701r
Banks and Banking — Source: USLM XML via OLRC
The Congress finds that there is a large and growing need for suitable housing for older people both in urban and rural areas. Our older citizens face special problems in meeting their housing needs because of the prevalence of modest and limited incomes among the elderly, their difficulty in obtaining liberal long-term home mortgage credit, and their need for housing planned and designed to include features necessary to the safety and convenience of the occupants in a suitable neighborhood environment. The Congress further finds that the present programs for housing the elderly under the Department of Housing and Urban Development have proven the value of Federal credit assistance in this field and at the same time demonstrated the urgent need for an expanded and more comprehensive effort to meet our responsibilities to our senior citizens.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Codification Section was enacted as part of the Senior Citizens Housing Act of 1962, and not as part of the National Housing Act which comprises this chapter.
Amendments
1967—Pub. L. 90–19 substituted “Department of Housing and Urban Development” for “Housing and Home Finance Agency” in second sentence.
Reference
Citations & Metadata
Citation
12 U.S.C. § 1701r
Title 12 — Banks and Banking
Last Updated
Apr 3, 2026
Release point: 119-73not60