Bill > HR7009

This bill, titled the "Home Affordability for Guard and Reserve Act," aims to expand eligibility for housing loans guaranteed by the Secretary of Veterans Affairs to members of the reserve components and the National Guard who perform certain duties. Specifically, it redefines "active duty" for these individuals to include various types of service, such as inactive-duty training, annual training, and specific calls to active duty, as well as full-time service within the National Guard for organizing, recruiting, or training purposes. Furthermore, the bill allows individuals who have completed at least 14 days of such qualifying service and continued to serve until the completion of their entry-level and skill training to be considered veterans for home loan purposes, provided they pay an additional loan fee. This expanded eligibility applies retroactively to service performed on or after September 11, 2001, and the Secretary of Veterans Affairs will be responsible for notifying eligible personnel of these new housing loan benefits.