Legislation is Sinema’s first senate bill to become law
WASHINGTON — The President has signed into law Arizona senior Senator Kyrsten Sinema’s bipartisan Protecting Affordable Mortgages for Veterans Act — legislation that safeguards veterans from predatory loan practices and helps them more easily access their earned homeowner benefits.
The Protecting Affordable Mortgages for Veterans Act is Sinema’s first Senate bill to reach the President’s desk and be signed into law. The legislation, cosponsored by Republican Senator Thom Tillis, previously passed the Senate and the U.S. House.
“I’m proud to have worked with Arizona veterans and my colleagues on both sides of the aisle to get this bill signed into law and ensure our veterans have full access to the homeowner benefits they’ve earned,” said Sinema, a member of the Senate Veterans’ Affairs Committee.
An unintended consequence in existing law makes it more difficult for veterans to use the VA home loan guaranty to refinance their mortgages. Sinema’s bipartisan Protecting Affordable Mortgages for Veterans Act fixes this problem and allows Arizona veteran homeowners save money, pay off their mortgages, and avoid falling prey to predatory lenders.
