Everyone celebrated when the Blue Water Navy Vietnam
Veterans Act passed Congress last year and was signed into law by President
Donald Trump.
The bill provided benefits to Navy veterans exposed to Agent
Orange during the Vietnam War. But hidden in the small print was a detail many
legislators overlooked when voting for the bill: It was funded by hiking fees
on mortgages backed by the Veterans Administration.
“These are all worthwhile benefits, and we want to see
veterans get the care they deserve, but why is Congress choosing to pay for
these benefits on the backs of military families?” Chris Birk, director of
education for Veterans United, the largest VA lender, said to HousingWire at
the time.
Now, another attempt to have active-duty military and
veterans pay for benefits for other current or former members of the armed
services has been derailed – at least in part – because of an amendment by Sen.
Jerry Moran (R-KS) to HR 3504, a bill approved by Congress on Monday that
provides funds to adapt housing for disabled vets.
The fee hike in last year’s Blue Water Navy bill temporarily
increased the VA mortgage funding fee from 2.15% to 2.3% for first-time buyers
and from 3.3% to 3.6% for subsequent buyers through Jan. 1, 2022. Most vets
roll the fee into their loans, meaning they’re paying off their fee with
interest for the time they own their property.
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