Housing bond properties to be restricted

Lawmakers have passed for the second and final time a bill that puts more restrictions on homes financed with public housing bonds issued by the  Banco Hipotecario de la Vivienda.

The bonds are designed so that low-income residents can purchase homes.

However, some homes have been abandoned and others have been rented or sold to third parties who may or may not qualify for the bonds.

The bill says that homeowners must live in the houses for 10 years and cannot mortgage them, rent them or transfer them without permission. The Registro Nacional would be empowered to reject filing any sales involving such property that are not accompanied by official authorization.

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