H.R. 3720

119 HR 3720 IH: Heroes Owning and Materializing Equity Act of 2025
 U.S. House of Representatives
 2025-06-04
 text/xml
 EN
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 I  119th CONGRESS  1st Session  H. R. 3720  IN THE HOUSE OF REPRESENTATIVES   June 4, 2025   Ms. King-Hinds  (for herself and  Mr. Van Orden ) introduced the following bill; which was referred to the  Committee on Veterans' Affairs    A BILL
To amend title 38, United States Code, to make certain improvements in the guidance provided by the Department of Veterans Affairs to lenders regarding the sufficiency of veterans’ residual income, and for other purposes.
1.
Short title
This Act may be cited as the   Heroes Owning and Materializing Equity Act of 2025   or the   HOME Act of 2025  .
2.
Improvement of Department of Veterans Affairs guidance to lenders on sufficiency of veterans’ residual income
Section 3710(i) of title 38, United States Code, is amended—
(1)
in paragraph (3)(A)—
(A)
in clause (viii), by striking  and  at the end;
(B)
by redesignating clause (ix) as clause (x); and
(C)
by inserting after clause (viii) the following new clause (ix):
(ix)
nonprofit financial service organizations; and
 ; and
(2)
by adding at the end the following new paragraph:
(6)
The Secretary shall coordinate with nonprofit organizations that advocate for veterans to offer financial counseling, on a voluntary basis, to veterans who are purchase homes using loans guaranteed under this chapter.
 .
3.
Database of adapted housing for sale
Section 2101 of title 38, United States Code, is amended by—
(1)
redesignating subsection (c) as subsection (d); and
(2)
inserting after subsection (b) the following new subsection (c):
(c)
Database
(1)
The Secretary shall develop a database that includes a list of residences that—
(A)
are for sale;
(B)
have been adapted for a disabled veteran under this section; and
(C)
the seller of which elects to include in the database.
(2)
The shall make such database available to a disabled veteran who is interested in purchasing a residence adapted under this section.
 .
4.
Outreach to veterans residing in United States Territories
Section 2101A of title 38, United States Code, is amended—
(1)
by redesignating subsection (d) as subsection (e); and
(2)
by inserting after subsection (c) the following new subsection (d):
(d)
Outreach to veterans residing in Territories
The Secretary shall conduct outreach to veterans who reside in Territories of the United States regarding eligibility for benefits under this section.
 .