Sinema, Zeldin, Tenney Pass Bill to Help AZ Veterans Achieve, Maintain Homeownership

Thanks to a bipartisan effort co-led by Congresswoman Kyrsten Sinema (AZ-09), Arizona veterans are a step closer to improved access to the housing benefits they’ve earned through service. Sinema, Congressman Lee Zeldin (NY-01), and Congresswoman Claudia Tenney (NY-22) passed their bipartisan Protect Affordable Mortgages for Veterans Act through the House Financial Services Committee. The bill makes a critical fix to existing law that helps Arizona veteran homeowners save money, pay off their mortgages, and avoid falling prey to predatory lenders.

“Honoring our commitment to those who served our country must be our top priority. Removing red tape to help ensure veterans can achieve the dream of homeownership is just common sense,” said Congresswoman Kyrsten Sinema. “The Protect Affordable Mortgages for Veterans Act is a bipartisan solution that helps veterans and their families pay off their mortgages while maintaining key protections against shady lenders. I’m proud to work across the aisle with Congressman Zeldin and Congresswoman Tenney to stand up for veterans and military families.”

“H.R. 6737 is an important piece of legislation aimed at ensuring and enhancing liquidity for mortgage loans provided to our military veterans,” said Kelly Powers, Vice President of Retail Branch Operations/Government Relations at AmeriFirst Financial in Tempe. “This bill will improve lenders’ ability to offer veterans the chance to refinance their loans while leaving in place critical protections against unscrupulous lending practices.”

The bill addresses an unintended consequence in existing law that makes it more difficult for veterans to use the VA home loan guaranty to refinance their mortgages. Without Sinema, Zeldin, and Tenney’s fix, Arizona veterans and military families would face higher costs or potentially be denied the dream of homeownership. The legislation also retains all consumer protections to ensure Arizona veterans receive the benefits they’ve earned in full and continue to be protected from predatory lenders.

The House Financial Services Committee passed H.R. 6737 on a unanimous bipartisan vote of 49-0.