Congresswoman Linda Sánchez (CA-39) today announced two pieces of important legislation designed to help America's veterans struggling in the current economy. The "Vet Success Enhancement Act of 2011" (H.R. 3329) would help disabled veterans find good paying jobs through apprenticeships and training programs. A second bill introduced by Congresswoman Sánchez, H. R. 3330, would make home mortgages more affordable for veterans.
"Our veterans have put their lives on the line to protect our freedoms," said Congresswoman Sánchez. "Disabled veterans, especially, have paid a steep price serving our country, and we must ensure that our service men and women can return to productive civilian life and good paying jobs. We also owe it to our veterans to make mortgages more affordable, so that we can help prevent veteran homelessness. The least we can do is extend this mortgage program so that veterans can pursue the American Dream of homeownership."
The "Vet Success Enhancement Act of 2011" (H.R. 3329), would extend veterans' eligibility for the Vocational Rehabilitation and Employment (VR&E) VetSuccess Program by three years. Currently, many veterans miss their window of opportunity to enroll in the VetSuccess program, which helps disabled veterans with rehabilitation as well as training that allows them to reenter the workforce.
H.R. 3330 would extend the Department of Veterans Affairs guaranteed Adjustable Rate Mortgages (ARMs) and Hybrid Adjustable Rate Mortgages through 2017. VA-backed ARMs and hybrid ARMs differ from conventional mortgages in that, if interest rates drop, veterans can save thousands of dollars in mortgage payments.
Congresswoman Sánchez, who serves on the House Veterans' Affairs Committee, drafted these two bills after holding several meetings with her Veterans Advisory Council. Formed in August 2010, her Veterans Advisory Council is comprised of distinguished veterans from the 39th Congressional District who give Congresswoman Sánchez feedback on veterans issues.