[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[S. 2961 Introduced in Senate (IS)]







110th CONGRESS
  2d Session
                                S. 2961

 To amend title 38, United States Code, to enhance the refinancing of 
                        home loans by veterans.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                              May 1, 2008

   Mr. Akaka introduced the following bill; which was read twice and 
             referred to the Committee on Veterans' Affairs

_______________________________________________________________________

                                 A BILL


 
 To amend title 38, United States Code, to enhance the refinancing of 
                        home loans by veterans.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. ENHANCEMENT OF REFINANCING OF HOME LOANS BY VETERANS.

    (a) Inclusion of Refinancing Loans Among Loans Subject to Guaranty 
Maximum.--Section 3703(a)(1)(A)(i)(IV) of title 38, United States Code, 
is amended by inserting ``(5),'' after ``(3),''.
    (b) Increase in Maximum Percentage of Loan-to-Value of Refinancing 
Loans Subject to Guaranty.--Section 3710(b)(8) of such title is amended 
by striking ``90 percent'' and inserting ``95 percent''.
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