Summary: H.R.4724 — 103rd Congress (1993-1994)All Information (Except Text)

There is one summary for H.R.4724. Bill summaries are authored by CRS.

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Introduced in House (07/12/1994)

Makes eligible for the veterans' housing loan program: (1) members of the Selected Reserve discharged or released before completion of six years of service because of a service-connected disability; and (2) surviving spouses of reservists who die while on active duty.

Repeals a Federal provision prohibiting guaranteed housing loans to veterans for property not served by a public or adequate community water and sewage system.

Authorizes the Secretary of Veterans Affairs to guarantee to refinance loans of veterans making energy efficiency improvements. Allows for the charging of a guaranteed housing loan fee for such loan. Provides for the guaranteeing of refinance loans made to change a mortgage from an adjustable to a fixed rate.

Provides authority for guaranteeing loans made to purchase a manufactured home if the home displays a certification of conformity with Federal manufactured home construction and safety standards. Repeals certain inspection requirements with respect to such manufactured homes, as well as a reporting requirement concerning such inspections. Revises certain default procedures with respect to guaranteed housing loans.

Excludes from certain minimum active-duty service requirements, for purposes of eligibility for veterans' guaranteed housing loans, those veterans whose discharge or release from active duty was the result of a reduction in force.