Home Owners’ Loan Act, 1933


Home Owners’ Loan Act, 1933
   Passed in June 1933, the Home Owners’ Loan Act enabled the Home Owners’ Loan Corporation to offer government bonds to lenders to cover defaulted mortgages, preventing foreclosure and loss of homes.

Historical Dictionary of the Roosevelt–Truman Era . . 2015.

Look at other dictionaries:

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  • Home Owners' Loan Corporation — The Home Owners Loan Corporation (HOLC) or Home Owner s Refinancing Act, was a New Deal agency established in 1933 under President Franklin D. Roosevelt. Its purpose was to refinance homes to prevent foreclosure. It was used to extend loans from… …   Wikipedia

  • Home Owners' Loan Corporation — A corporation established by Act of Congress in 1933 to refinance the indebtedness of homeowners threatened by foreclosure; liquidated in 1951 …   Ballentine's law dictionary

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