Pub. L. 89-754, tit. VIII, sec. 807

Sec. 807. (a) Section 501(a) of the Housing Act of 1949 is amended by inserting before the period at the end thereof the following: “, and (4) to an owner described in clause (1), (2), or (3) for refinancing indebtedness which— “(A) was incurred for an eligible purpose described in such clause, “(B) if not refinanced, is likely to result at an early date in loss of the applicant’s necessary dwelling or essential farm service buildings, “(C) is not held or insured by the United States or any agency thereof, and “(D) was incurred prior to the enactment of this clause.” (b) Section 501 (c) of such Act is amended by inserting before the semicolon at the end of clause (1) the following: “, or that he is the owner of a farm or other real estate in a rural area who needs refinancing of indebtedness described in clause (4) of subsection (a)”.