Establishes a pilot program for the Secretary of Housing and Urban Development to insure mortgages for converting basement spaces into habitable.
The Habitable Housing Conversion Pilot Program Act of 2026 establishes a five-year pilot program for the Secretary of Housing and Urban Development to insure mortgages made to finance improvements converting basement spaces into safe and habitable dwelling units. The program aims to evaluate the effectiveness of these mortgage insurances, with priority given to properties in areas prone to hazards. The Secretary must consult with the Federal Emergency Management Agency and the National Oceanic and Atmospheric Administration to identify such areas.
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