Summary: H.R.1988 — 116th Congress (2019-2020)All Information (Except Text)

There is one summary for H.R.1988. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (03/28/2019)

Protect Affordable Mortgages for Veterans Act of 2019

This bill revises loan seasoning requirements related to a refinanced Department of Veterans Affairs (VA) housing loan. Under current law, the VA is prohibited from guaranteeing a refinanced home loan until the date that is the later of (1) the date on which the sixth monthly payment is made, or (2) the date that is 210 days after the first payment is made. This bill modifies this date to (1) when the borrower has made six consecutive monthly payments, or (2) 210 days after the first payment is due.