Title 42, The Public Health and WelfareRelease 119-110
§1437z–2 Public Housing Mortgages and Security Interests
Title 42 › CHAPTER 8 — LOW-INCOME HOUSING › SUBCHAPTER I — GENERAL PROGRAM OF ASSISTED HOUSING › § 1437z–2
Summary
Allows a public housing agency to put a mortgage or other claim on its projects or property. The Secretary may set the rules and consider whether the money will fund low-income housing, the agency’s ability to make payments, and other criteria the Secretary chooses. The federal government will not be liable.
Full Legal Text
Title 42, §1437z–2
The Public Health and Welfare, Source: USLM XML via OLRC
(a)General authorization
The Secretary may, upon such terms and conditions as the Secretary may prescribe, authorize a public housing agency to mortgage or otherwise grant a security interest in any public housing project or other property of the public housing agency.
(b)Terms and conditions
In making any authorization under subsection (a), the Secretary may consider—
(1)the ability of the public housing agency to use the proceeds of the mortgage or security interest for low-income housing uses;
(2)the ability of the public housing agency to make payments on the mortgage or security interest; and
(3)such other criteria as the Secretary may specify.
(c)No Federal liability
No action taken under this section shall result in any liability to the Federal Government.
Legislative History
Notes & Related Subsidiaries
Statutory Notes and Related Subsidiaries
Effective Date
Section effective and applicable beginning upon Oct. 1, 1999, except as otherwise provided, with provision that Secretary may implement section before such date except to extent otherwise provided, see section 503 of Pub. L. 105–276, set out as an
Effective Date
of 1998 Amendment note under section 1437 of this title.
Reference
Citations & Metadata
Citation
42 U.S.C. § 1437z–2
Title 42, The Public Health and Welfare
Last Updated
Sep 22, 2026
Release point: 119-110