HR 7898 United States House · 118th Congress

Veterans Housing Stability Act of 2024

HR 7898, the Veterans Housing Stability Act of 2024, creates a new "Partial Claim Program" to prevent foreclosure for veterans with VA-guaranteed housing loans. The program allows the VA Secretary to purchase up to 30% of a defaulted loan's balance, requiring veterans to repay the amount as a noninterest-bearing loan secured by the property. It also grants the Secretary authority to impose foreclosure moratoriums during national emergencies (up to 180 days with congressional notice) and establishes civil penalties for loan holders making false claims. The bill directly affects veterans with VA-guaranteed loans facing default and modifies foreclosure procedures to prioritize loss mitigation.

Issues: ✓ Housing ✓ Veterans

Sub-Topics: Homeownership Mortgages Veteran Housing Veteran Healthcare Veteran Mental Health

Bill status in committee 1 of 4 stages cleared

Introduction

Apr 2024

Committee Review

Floor Vote

President

Introduced Apr 9, 2024 Last action Apr 19, 2024

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Full legislative history

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Committee

Apr 19, 2024

Committee

Referred to the Subcommittee on Economic Opportunity.

lower

Apr 9, 2024

Committee

Referred to the House Committee on Veterans' Affairs.

lower

Apr 9, 2024

Introduced

Introduced in House

lower

1 primary · 2 co-sponsors