Armed Forces Housing Security Act

A bill to amend title 38, United States Code, to enhance housing loan authorities for veterans and to otherwise assist veterans and members of the Armed Forces in avoiding the foreclosure of their homes, and for other purposes.

5/7/2008--Introduced.
Armed Forces Housing Security Act - Increases the maximum loan guaranty amount for certain veterans' housing loans guaranteed through the Department of Veterans Affairs (VA). Directs the Secretary of Veterans Affairs to review and streamline the process for guaranteeing veterans' home loans for the purchase of condominiums. Repeals the veterans' home loan fee. Authorizes the Secretary to provide loans to veterans to refinance loans of up to 100% (currently 90%) of the value of the dwelling or farm residence securing the loan. Allows the VA to guarantee refinanced loans not previously guaranteed by the VA. Amends the Servicemembers Civil Relief Act to extend from 90 days to one year after completion of military service the grace period against the sale, foreclosure, or seizure of a defaulted mortgage. Prohibits a member of the Armed Forces from waiving such protection. Specifically applies such protection to members (regular and reserve) serving on active duty as part of Operations Iraqi Freedom or Enduring Freedom (covered member), and their dependents. Provides protections against loan owners or insurers for loan servicers who implement qualified loan modifications or workout plans for covered members and their dependents. Directs the Secretary of Defense to provide financial services counseling relating to a mortgage and mortgage foreclosure to a veteran, covered member, and their dependents.


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Sponsor

• Sen. Hillary Clinton [D, NY]
• and 1 Co-Sponsors
  • Sen. Charles Schumer [D, NY]
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Committees

• Senate Veterans' Affairs

Amendments

This bill has no amendments.

Amendments to S.2992

Number	Status	Purpose

Bill Status

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Introduced		Voted on by Senate		Voted on by House		Considered By President		Bill Becomes Law
May 07, 2008

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All Bill Actions

• May 07, 2008: Read twice and referred to the Committee on Veterans' Affairs.
• Introduced on May 07, 2008.

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Related Issue Areas:

• Veterans' loans
• South Asia
• Social services
• Mortgages
• 28 more
• Military operations
• Military dependents
• Middle East and North Africa
• Loan defaults
• Liability (Law)
• Law
• Jurisdiction
• Iraq compilation
• Iraq
• Housing
• Government trust funds
• Government publicity
• Government information
• Foreclosure
• Fines (Penalties)
• Finance
• Fees
• Federally-guaranteed loans
• Families
• Defense policy
• Criminal justice
• Counseling
• Condominium (Housing)
• Budgets
• Armed forces
• Afghanistan
• Actions and defenses
• Veterans

Data from the Congressional Research Service

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Blog Coverage

December 03, 2008 Protokoll einer nachrichtendienstl. Überwachung

Nov.15, (22), S. 2992-2997. Landesanstalt für Umweltschutz Baden-Württemberg (2002): Elektromagnetische Felder und Hörphänomene - Zusammenfassung des aktuellen Wissenstandes. Januar 2002, Az. 33-8822.22. ...

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Source: Protokoll einer nachrichtendienstl. Überwachung

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October 23, 2008 Hillary Rodham Clinton, Senator for New York: Clinton Welcomes ...

Thank you for sponsoring S. 2992. As set forth below, NGAUS strongly supports the bill that would extend mortgage foreclosure protection under the Servicemembers’ Civil Relief Act from 90 days to one year post deployment. ...

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Source: Releases of Hillary Rodham Clinton

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May 24, 2008 Hillary Rodham Clinton, Senator for New York: Clinton Welcomes ...

Thank you for sponsoring S. 2992. As set forth below, NGAUS strongly supports the bill that would extend mortgage foreclosure protection under the Servicemembers’ Civil Relief Act from 90 days to one year post deployment. ...

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Source: Releases of Hillary Rodham Clinton

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