Hr 949 Hr 951 And Hr 950 Hearing Before the Subcommittee On Housing An
Hr 949 Hr 951 And Hr 950 Hearing Before the Subcommittee On Housing An
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This assistance would be in the form of a new direct loan to veterans who are either unemployed or have suffered a substantial reduction in household income and currently own and occupy a home which secures an existing VA guaranteed loan (referred to as the "primary loan" under H. R. 950). Payments on the primary loan 52 must be at least 6 months delinquent, but the veteran must have a reasonable prospect of resuming full payments on the primary loan within 6 months .
The bill would authorize t...he Secretary to advance up to $10, 000 on behalf of the veteran to the holder of the primary loan in order to bring the primary loan current, The advance would not bear interest until payments on the primary loan are current. The veteran would be required to repay the advance within 15 years.
Mr. Chairman, we believe a new Federal assistance program such as proposed by H. R. 950 based on making direct loans to seriously delinquent borrowers i6 not warranted and would drain resources from VA's loan funds.
What to read after Hr 949 Hr 951 And Hr 950 Hearing Before the Subcommittee On Housing An?
You can find similar books in the "Read Also" column, or choose other free books by United States Congress House Committee On Veter to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
This assistance would be in the form of a new direct loan to veterans who are either unemployed or have suffered a substantial reduction in household income and currently own and occupy a home which secures an existing VA guaranteed loan (referred to as the "primary loan" under H. R. 950). Payments on the primary loan 52 must be at least 6 months delinquent, but the veteran must have a reasonable prospect of resuming full payments on the primary loan within 6 months .
The bill would authorize t...he Secretary to advance up to $10, 000 on behalf of the veteran to the holder of the primary loan in order to bring the primary loan current, The advance would not bear interest until payments on the primary loan are current. The veteran would be required to repay the advance within 15 years.
Mr. Chairman, we believe a new Federal assistance program such as proposed by H. R. 950 based on making direct loans to seriously delinquent borrowers i6 not warranted and would drain resources from VA's loan funds.
What to read after Hr 949 Hr 951 And Hr 950 Hearing Before the Subcommittee On Housing An?
You can find similar books in the "Read Also" column, or choose other free books by United States Congress House Committee On Veter to read onlineMoreLess
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