Union Calendar No. 124
103D CONGRESS
1ST SESSION
H. R. 949
[Report No. 103–222]
A BILL
To amend title 38, United States Code, to increase
the amount of the loan guaranty for loans for the
purchase or construction of homes.
AUGUST 6, 1993
Reported with amendments, committed to the Committee
of the Whole House on the State of the Union, and or-
dered to be printed
IB
Union Calendar No. 124
103D CONGRESS
1ST SESSION
H. R. 949
[Report No. 103–222]
To amend title 38, United States Code, to increase the amount of the
loan guaranty for loans for the purchase or construction of homes.
IN THE HOUSE OF REPRESENTATIVES
FEBRUARY 17, 1993
Mr. SANGMEISTER introduced the following bill; which was referred to the
Committee on Veterans’ Affairs
AUGUST 6, 1993
Additional sponsors: Ms. BROWN of Florida, Mr. FILNER, Mrs. MALONEY, Mr.
MONTGOMERY, Mr. KING, Mr. PENNY, Mr. TEJEDA, Mr. BISHOP, Mr.
HEFNER, Mr. RICHARDSON, Mr. STENHOLM, Mr. PAYNE of Virginia, Mr.
PARKER, and Mr. GENE GREEN of Texas
AUGUST 6, 1993
Reported with amendments, committed to the Committee of the Whole House
on the State of the Union, and ordered to be printed
[Strike out all after the enacting clause and insert the part printed in italic]
[For text of introduced bill, see copy of bill as introduced on February 17, 1993]
A BILL
To amend title 38, United States Code, to increase the
amount of the loan guaranty for loans for the purchase
or construction of homes.
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled,
SECTION 1. INCREASE IN AMOUNT OF LOAN GUARANTY
FOR LOANS FOR THE PURCHASE OR CON-
STRUCTION OF HOMES.
Subparagraphs
(A)(i)(IV)
and
(B)
of
section
3703(a)(1) of title 38, United States Code, are each
amended by striking out ‘‘$46,000’’ and inserting in lieu
thereof ‘‘$50,750.’’.
SECTION 1. INCREASE IN AMOUNT OF LOAN GUARANTY
FOR LOANS FOR THE PURCHASE OR CON-
STRUCTION OF HOMES.
Subparagraphs 
(A)(i)(IV) 
and 
(B) 
of 
section
3703(a)(1) of title 38, United States Code, are each amend-
ed by striking out ‘‘$46,000’’ and inserting in lieu thereof
‘‘$50,750’’.
SEC. 2. MORTGAGE PAYMENT ASSISTANCE TO AVOID FORE-
CLOSURE OF HOME LOANS GUARANTEED
UNDER TITLE 38.
(a) IN GENERAL.—(1) Chapter 37 of title 38, United
States Code, is amended by inserting after section 3714 the
following new section:
‘‘§ 3715. Loans to refinance delinquent indebtedness
‘‘(a)(1) The Secretary may, at the Secretary’s option,
provide assistance to a veteran under this section for the
purpose of avoiding the foreclosure of a housing loan made
to that veteran and guaranteed by the Secretary under sec-
tion 3710 or 3712 of this title (hereinafter in this section
referred to as a ‘primary loan’).
‘‘(2) Assistance under this section shall be in the form
of a loan to the veteran. Such assistance may be provided
only if—
‘‘(A) the dwelling that secures the primary loan
is the current residence of the veteran and is occupied
by the veteran as the veteran’s home;
‘‘(B) the veteran is delinquent in payments on
that primary loan and the holder has submitted the
notice of default as required by section 3732(a)(2)
and is unwilling to grant forbearance;
‘‘(C) the veteran has lost employment or has en-
countered circumstances beyond his control which af-
fect his ability to maintain mortgage payments; and
‘‘(D) the Secretary determines that there is a
reasonable prospect that the veteran will be able to re-
sume payment on the primary loan within six
months after receiving assistance under this section.
‘‘(3) For the purposes of this section, the term ‘veteran’
includes the surviving spouse of a veteran if the surviving
spouse was a co-obligor of the primary loan.