Sense of the Congress

It is the sense of the Congress that— (1) the Assistant Secretary for the Office of Housing and Federal Housing Commissioner should, acting through the Federal Housing Administration, insure second mortgages under section 203 of the National Housing Act for properties for which the Federal Housing Administration has insured a first mortgage, to facilitate the assumption of such first mortgage by a subsequent purchaser of such property; (2) the Secretary of Agriculture should guarantee loans for eligible housing under section 502(h) of the Housing Act of 1949 that are second mortgages if the Secretary of Agriculture insures the loan that is the first mortgage against such eligible housing, to facilitate the assumption of such first mortgage by a subsequent purchaser of such eligible housing; and (3) the Secretary of Veterans Affairs should insure and guarantee real estate housing loans secured by second liens under subchapter I of chapter 37 of title 38, United States Code, if the Secretary of Veterans Affairs insures the first lien against such real estate, to facilitate the assumption of the first mortgage against such real estate by a subsequent purchaser of such real estate.