S. 2992: Armed Forces Housing Security Act

110th Congress · introduced 2008-05-07 · Armed Forces and National Security · Latest: Read twice and referred to the Committee on Veterans' Affairs.

federal

Follow this bill, step by step

Where it came from: introduced 2008-05-07 · official record
Who proposed it: Sen. Clinton, Hillary Rodham [D-NY] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Read twice and referred to the Committee on Veterans' Affairs. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Armed Forces Housing Security Act

Plain summary

Armed Forces Housing Security Act - Increases the maximum loan guaranty amount for certain veterans' housing loans guaranteed through the Department of Veterans Affairs (VA). Directs the Secretary of Veterans Affairs to review and streamline the process for guaranteeing veterans' home loans for the purchase of condominiums. Repeals the veterans' home loan fee. Authorizes the Secretary to provide loans to veterans to refinance loans of up to 100% (currently 90%) of the value of the dwelling or farm residence securing the loan. Allows the VA to guarantee refinanced loans not previously guaranteed by the VA. Amends the Servicemembers Civil Relief Act to extend from 90 days to one year after completion of military service the grace period against the sale, foreclosure, or seizure of a defaulted mortgage. Prohibits a member of the Armed Forces from waiving such protection. Specifically applies such protection to members (regular and reserve) serving on active duty as part of Operations Iraqi Freedom or Enduring Freedom (covered member), and their dependents. Provides protections against loan owners or insurers for loan servicers who implement qualified loan modifications or workout plans for covered members and their dependents. Directs the Secretary of Defense to provide financial services counseling relating to a mortgage and mortgage foreclosure to a veteran, covered member, and their dependents.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Armed Forces Housing Security Act

Source: Congressional Research Service summary (Introduced in Senate)

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Sen. Clinton, Hillary Rodham [D-NY] · 1 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Charles E. Schumer (D-NY)

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (1)

Securities: Financial investments that can be bought and sold, such as stocks and bonds.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-110s2992.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/110/s>

Record fed-us-cong110-s2992 · catalog fed-us-congress-bills-cong110 · updated 2026-11-15 by psicol fed-bills-cong110