Final answer:
The MACEDA Law does not directly cover housing loans as it is related to real estate installment purchases in the Philippines. U.S. history shows federal assistance and refinancing, such as those by the Home Owners' Loan Corporation to prevent foreclosures. Policies like FHA's redlining were discriminatory and unlike MACEDA, focused on mortgage refinancing rather than installment sale protections.
Step-by-step explanation:
The MACEDA Law, formally known as the Realty Installment Buyer Protection Act, is specific to the Philippines and pertains to the purchase of real estate on installment. It does not directly cover housing loans which are typically processed through banks and other financial institutions. However, the broader concepts of housing assistance and refinancing can be connected to policies such as those enacted by the Home Owners' Loan Corporation during the Great Depression in the United States, which provided refinancing options to prevent foreclosures for many American families. Federal housing assistance, as mentioned in the provided reference, would come in various forms to support income families.
It's important to note the history of housing assistance in the U.S., where agencies like the FHA played significant roles in financing homes. However, some of their policies, notably redlining, were discriminatory and prevented minorities from benefiting equally from these programs. Unlike the U.S. refinancing practices and federal housing aid, which were designed to alleviate the pressures of home mortgages, the MACEDA Law provides protections to buyers who might default on installment purchases of real property, which can potentially include some housing transactions, but is not directly linked to the concept of 'housing loans' as understood in the context of mortgages.