[Congressional Record Volume 156, Number 172 (Tuesday, December 21, 2010)]
[Extensions of Remarks]
[Page E2224]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




       INTRODUCTION OF THE VETERANS HOUSING FAIRNESS ACT OF 2010

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                        HON. CAROLYN B. MALONEY

                              of new york

                    in the house of representatives

                       Tuesday, December 21, 2010

  Mrs. MALONEY. Madam Speaker, today I introduce a bill to ensure that 
veterans have access to a diverse range of housing options.
  In 2006, Congress passed legislation allowing veterans to use their 
VA loans to purchase cooperative housing. The VA loan program allows 
veterans to buy homes with no down payment and limited closing costs; 
additionally, the program offers negotiable interest rates and flexible 
repayment plans. With over one million housing cooperatives nationwide, 
extending these generous loan benefits can make affordable 
homeownership a reality for veterans in our districts all across the 
country.
  This bill makes permanent the Department of Veterans Affairs loan 
guarantee for the purchase of residential cooperative housing units and 
gives veterans the freedom to choose where they live by allowing 
veterans to use their veterans' loans to purchase co-ops. In my 
district, co-ops are often the lowest cost housing. It makes no sense 
to deny veterans the ability to use their veterans' benefits to 
purchase these units. My bill will allow veterans to explore all 
housing options and choose the one that suits their needs.
  With this legislation we can honor the service and sacrifice of our 
nation's veterans by giving them the tools and resources they need to 
pursue their dreams.

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