S. 3299, A bill to amend title 38, United States Code, to extend the demonstration project on adjustable rate mortgages and the demonstration project on hybrid adjustable rate mortgages

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S. 3299 would amend title 38, United States Code, to extend the demonstration project on adjustable rate mortgages and the demonstration project on hybrid adjustable rate mortgages.

Detailed Summary

Extends the Department of Veterans Affairs (VA) demonstration projects on the guaranteeing of veterans' adjustable rate and hybrid adjustable rate mortgage loans in a manner similar to which the Secretary of Housing and Urban Development insures such mortgages under the National Housing Act.

Status of the Legislation

Latest Major Action: 7/22/2008: Referred to Senate committee. Status: Read twice and referred to the Committee on Veterans' Affairs.

Points in Favor

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Points Against

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