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HR 2618 98th Congress House Armed Forces and National Security Department of the Treasury Government trust funds Housing and Community Development Housing and Housing Finance Housing finance Mortgages Veterans' loans

A bill to amend chapter 37 of title 38, United States Code, to authorize the administrator of Veterans' Affairs to provide mortgage assistance to veterans with loans guaranteed by the Veterans' Administration in order to avoid foreclosure of such loans.

Introduced: April 19, 1983 See on congress.gov
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 Everywhere this bill has been 8 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 9, 1983
Clean Bill H.R.2948 Forwarded by Subcommittee to Full Committee in Lieu.
Apr 28, 1983
Subcommittee Consideration and Mark-up Session Held.
Apr 28, 1983
Executive Comment Received From VA.
Apr 21, 1983
Subcommittee Hearings Held.
Apr 21, 1983
Referred to Subcommittee on Housing and Memorial Affairs.
Apr 21, 1983
Executive Comment Requested from VA.
Apr 19, 1983
Introduced in House
Apr 19, 1983
Referred to House Committee on Veterans' Affairs.
 Plain-English summary Congressional Research Service

Authorizes the Administrator of Veterans Affairs to make advances to the holder of a veteran's primary mortgage when such veteran: (1) is temporarily unemployed; (2) is at least six months delinquent in payments; and (3) has a reasonable prospect of being able to resume full payments within six months. Sets limits on the amount of assistance which may be advanced. Requires the veteran to repay the advance with interest at the rate specified by the Administrator for veterans' guaranteed loans within 54 months.

States that if the veteran defaults on the mortgage despite the advances made, the advances do not reduce the obligation of the Administrator under the guaranty on the primary mortgage. Specifies that advances be made from the Direct Loan Revolving Fund established for veterans' loans. Makes the Administrator's decisions regarding advances final and nonreviewable.

Terminates the advance program after two years.

What's happening now May 9, 1983

Clean Bill H.R.2948 Forwarded by Subcommittee to Full Committee in Lieu.

 Committees of jurisdiction 2
 Cosponsors 1
All 1 Republican 1