back June 16, 2005 Ryan Introduces Veterans Homeownership Act WASHINGTON – First District Congressman Paul Ryan today introduced legislation that would enable veterans of recent military operations to qualify for special mortgage loans that have helped earlier generations of Wisconsin veterans become homeowners. This legislation – the American Veterans Homeownership Act of 2005 – would help open the door to homeownership for more current and future veterans.  Under current law, Wisconsin and four other states have the ability to issue tax-exempt bonds, the proceeds of which are used to finance mortgage loans to veterans. However, these mortgage loans can be made only to veterans who served on active duty before 1977 and who applied for the loan within 30 years after they left active military service. Therefore, veterans of more recent or ongoing military conflicts such as Operation Iraqi Freedom, Operation Enduring Freedom, Kosovo, Somalia, and the 1991 Persian Gulf War are not eligible, under present law, for such mortgage loans.  The American Veterans Homeownership Act would remove the requirement that veterans receiving loans financed with veterans’ bonds must have served before 1977, and the legislation would provide new state limits for these bonds.  “Our military men and women have served and continue to serve with honor and bravery in conflicts around the world. When they return from war, they deserve the same access to homeownership that previous generations of Wisconsin veterans have enjoyed. Our legislation will extend the opportunity for these special mortgage loans to veterans of operations over the past few decades,” Ryan said.   Print Contact: Kate Matus (202) 226-7326