Increasing Homeownership for Servicemembers Act

Hozzl · 2022-12-29T23:18:23Z

Explore the details of House Bill 7563 Increasing Homeownership for Servicemembers Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Armed Forces and National Security. Stay informed on legislative developments.

12/29/2022, 11:18 PM

Summary of Bill HR 7563

Bill 117 HR 7563, also known as the Increasing Homeownership for Servicemembers Act, aims to provide additional support and resources for members of the military to help them achieve homeownership. The bill specifically focuses on addressing the unique challenges that servicemembers face when trying to purchase a home.

One key provision of the bill is the establishment of a program that would provide financial assistance to servicemembers to help cover the costs associated with purchasing a home. This assistance could include down payment assistance, closing cost assistance, or other forms of financial support.

Additionally, the bill includes measures to streamline the homebuying process for servicemembers, such as providing access to specialized housing counselors who can help navigate the complexities of the homebuying process. The bill also aims to increase awareness among servicemembers about the various homeownership programs and resources available to them. Overall, the Increasing Homeownership for Servicemembers Act seeks to make it easier for members of the military to achieve the dream of homeownership by providing them with the necessary support and resources. This bill has garnered bipartisan support in Congress and is seen as a positive step towards helping servicemembers achieve financial stability and security through homeownership.

Congressional Summary of HR 7563

Increasing Homeownership for Servicemembers Act

This bill requires the Department of Defense to seek to enter into an agreement with a federally funded research and development center or nonprofit entity to study and report on the barriers to home ownership for members of the Armed Forces.

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Current Status of Bill HR 7563

Bill HR 7563 is currently in the status of Bill Introduced since April 21, 2022. Bill HR 7563 was introduced during Congress 117 and was introduced to the House on April 21, 2022. Bill HR 7563's most recent activity was Referred to the House Committee on Armed Services. as of April 21, 2022

Bipartisan Support of Bill HR 7563

Total Number of Sponsors

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Unaffiliated Sponsors

Total Number of Cosponsors

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Policy Area and Potential Impact of Bill HR 7563

Primary Policy Focus

Armed Forces and National Security

Alternate Title(s) of Bill HR 7563

Increasing Homeownership for Servicemembers ActIncreasing Homeownership for Servicemembers ActTo direct the Secretary of Defense to seek to enter into an agreement with an entity to conduct a study and produce a report on barriers to home ownership for members of the Armed Forces.

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