VA Loan Increase Passes Senate

Week of April 21, 2008

The U.S. Senate recently passed H.R. 3221, which incorporated provisions to boost the limit on veterans' home loans. The Economic Stimulus Act of 2008 signed into law in February 2008 did not include an increase for the VA Home Loan Program. To correct this oversight, Senator Daniel K. Akaka (D-HI), chairman of the Veterans' Affairs Committee, introduced S. 2768, This provision proposes the appropriate increase to the VA Home Loan limits -- provisions derived from this bill were included in H.R. 3221. If enacted, provisions in the bill would provide for this increase throughout the calendar year. The bill now moves to the House of Representatives. Contact your elected officials; let them know what you think of this issue.

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