S. 3087 · 110th Congress
Helping Our Veterans to Keep Their Homes Act of 2008
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Never voted on. It didn't reach a floor vote before the 110th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
SnoweSponsorNo cosponsors.
Helping Our Veterans to Keep Their Homes Act of 2008 - Increases from 90% to 100% of the reasonable value of a veteran's dwelling or farm residence the amount of the loan to be guaranteed or made in the case of a loan to refinance certain loans.
What it does: CRS summary · Introduced in Senate · Jun 5, 2008
Helping Our Veterans to Keep Their Homes Act of 2008 - Increases from 90% to 100% of the reasonable value of a veteran's dwelling or farm residence the amount of the loan to be guaranteed or made in the case of a loan to refinance certain loans.
Prohibits collecting a fee from a veteran for a housing loan, unless the loan is used to refinance indebtedness. Changes the loan fee for such loans to 1% of the total amount of the loan guaranteed, insured, or made, or in the case of a loan assumption, the unpaid principal balance of the loan on the date of the transfer of the property.
Extends the demonstration projects involving: (1) adjustable rate mortgages through FY2018; and (2) hybrid adjustable rate through FY2012.
Increases the maximum loan guaranty amount of the Federal Home Loan Mortgage Corporation (Freddie Mac) conforming limit limitation determined for a single-family residence, as adjusted for the year involved.
Directs the Secretary of Veterans Affairs to review and streamline the process of guaranteeing home loans for the purchase of a condominium.
Increases the maximum guaranty amount for certain refinanced loans or other liens.
Sets, for a veteran whose income is below an amount set by the Secretary, the maximum amount of guaranty entitlement available for a home loan in any amount at the greater of: (1) the guaranty amount for veterans whose income is not below such amount set by the Secretary; or (2) 30% of the loan.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Helping Our Veterans to Keep Their Homes Act of 2008
Latest action (Jun 5, 2008): Read twice and referred to the Committee on Veterans' Affairs.
Policy area: Armed Forces and National Security · Origin: Senate · Introduced: Jun 5, 2008
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.