H.R.4884 - Helping Our Veterans to Keep Their Homes Act of 2008

To amend title 38, United States Code, to make certain improvements in the home loan guaranty programs administered by the Secretary of Veterans Affairs, and for other purposes. view all titles (2)

All Bill Titles

  • Official: To amend title 38, United States Code, to make certain improvements in the home loan guaranty programs administered by the Secretary of Veterans Affairs, and for other purposes. as introduced.
  • Short: Helping Our Veterans to Keep Their Homes Act of 2008 as introduced.

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Introduced
 
House
Passes
 
Senate
Passes
 
President
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12/19/07
 
 
 
 
 
 
 

Official Summary

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. Repeals the current fee schedule with re

Official Summary

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. Repeals the current fee schedule with respect to veterans' housing and small business loans. 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. Provides for an annual inflation increase in home loan guaranty amounts. Directs the Secretary of Veterans Affairs to review and streamline the process of guaranteeing home loans for the purchase of a condominium.

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