Veterans Housing Foreclosure Assistance Act of 1983

Summary

Veterans' Housing Foreclosure Assistance Act of 1983 - Authorizes the Administrator of Veterans Affairs to make advances to the holder of a veterans' primary mortgage when such veteran: (1) is living in the dwelling concerned; (2) is unemployed or suffered a substantial reduction in household income; (3) is at least six months delinquent in payments; and (4) has a reasonable prospect of being able to resume full payments within six months. Sets limits on the amount of assistance which may be advanced. Requires the veteran to repay the advance with interest at the rate specified by the Administrator for veterans' guaranteed loans within 48 months. Makes the Administrator's decisions regarding advances final and nonreviewable. Terminates the advance program after two years.

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1 official file

• Introduced in Senate

  summary · EN · 5 October 1983

  Open at official source

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