Updated over 8 years ago on . Most recent reply
Garne St. Germain Act
Back during the Reagan administration, he signed what is called the Garne St. Germain Act (named after the 2 congressman that sponsored the legislation) that relaxed the restrictions on banks for making home loans as well as prohibited banks from exercising the "due-on-sale" clause if a homeowner transferred property. When the bubble burst and new legislation was signed into law, does anyone know if the Garne St. Germain Act was superseded by any legislation? If it was, do you have a link that you can provide as evidence?