H.R.949 - To amend title 38, United States Code, to increase the amount of the loan guaranty for loans for the purchase or construction of homes.103rd Congress (1993-1994)
Summary: H.R.949 — 103rd Congress (1993-1994)
Passed House amended (09/21/1993)
Increases from $46,000 to $50,750 the amount of the loan guaranty by the Department of Veterans Affairs for loans to qualifying veterans for the purchase or construction of homes.
Authorizes the Secretary of Veterans Affairs to provide financial assistance to veterans for the purpose of avoiding foreclosure on a mortgage loan made and guaranteed by the Department. Provides conditions for such assistance. Allows the Secretary to make more than one loan to a veteran, but limits the per-veteran total to $10,000. Requires repayment of all such financial assistance provided.
Makes a technical correction relating to the financing of discount points for certain veterans' loans.
Deletes the requirement that adjustments in adjustable rate mortgages guaranteed to veterans by the Department occur on the anniversary of the date on which the loan was closed.
Provides a $150 cemetery plot allowance, payable to a State or appropriate political subdivision, in the case of a veteran who is eligible for burial in a national cemetery and is buried in a cemetery used solely for the burial of persons eligible for burial in national cemeteries and owned by a State or its political subdivision.
Increases the amount authorized to be paid by the Secretary to a State for establishing, expanding, or improving veterans' cemeteries owned by such State from 50 to 65 percent of the total value and cost of such construction or improvements. Extends the authorization of appropriations for such program through FY 1999.
Amends the Homeless Veterans Comprehensive Service Programs Act of 1992 to delete a provision which limits grant funds provided under such Act to 65 percent of the estimated cost of expanding and improving the provision of Department benefits and services to homeless veterans.