,,ii  #aahth ,,congress  #b;d ,session  
,s4 #diga  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,august #a1    
#bjbd,mr4 ,welch introduced the         
following bill2 which was read twice and
 referred to the ,committee on ,banking1
 ,housing1 and ,urban ,affairs  ,a      
,,bill  ,to amend the ,housing ,act of  
#aidi to permit the assumption of loans 
under the ,doug ,bereuter ,section #ejb 
,single ,family ,housing ,loan          
,guarantee ,program4  #a4 ,short title  
,this ,act may be cited as the ,rural   
,homeownership ,continuity ,act of      
#bjbd4  #b4 ,assumption of loans under  
the ,doug ,bereuter ,section #ejb       
,single ,family ,housing ,loan          
,guarantee ,program  ,section           
#ejb7;h77#aj7 of the ,housing ,act of   
#aidi 7#db ,u4,s4,c4 #adgb7;h77#aj77 is 
amended to read as follows3  7#aj7      
,assumption  7,a7 ,in general ,the      
,secretary may provide for the          
assumption of a current guaranteed loan 
made under this subsection by any       

individual qualified to receive a       
guaranteed loan under this subsection   
upon the transfer to that individual of 
the property for which the guaranteed   
loan was made4  7,b7 ,release from      
liability ,if a borrower of a guaranteed
 loan under this subsection transfers   
the property for which the guaranteed   
loan was made to an individual who      
assumes the guaranteed loan under       
subparagraph 7,a71 the transferor1 and  
any co-borrower or guarantor of the     
transferor1 shall be relieved of        
liability with respect to the guaranteed
 loan4  7,c7 ,assumption of obligations1
 rights1 and interests ,the ,secretary  
shall provide in each assumption under  
subparagraph 7,a7 for the assumption of 
the obligations1 rights1 and interests  
under the terms of the guaranteed loan  
or such other terms as the ,secretary   
determines appropriate4  4