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Public Law No. 116-23 VA loan limits

A Closer Look at Public Law No. 116-23: Why Acting Now Can Change the Future for Veterans

Citizenship involves not only understanding the legislation that shapes our nation but also advocating for their benefits and making sure they work in favor of the public. One such crucial piece of legislation is Public Law No. 116-23, more specifically, the changes it brings to VA loan limits. In this blog post, we will discuss this law in detail, its implications, and what you can do about it.

Understanding Public Law No. 116-23 and VA Loan Limits

Public Law No. 116-23, or the Blue Water Navy Vietnam Veterans Act of 2019, signed into law on June 25, 2019, brought about significant changes to VA loans. This law extended the presumption of herbicide exposure, such as Agent Orange, to veterans who served in the offshore waters of the Republic of Vietnam. But it also modified the VA home loan program.

One of the significant changes was the removal of VA loan limits for borrowers with full entitlement. This means that eligible veterans and service members can now buy a home worth more than the former county loan limits without making a down payment, as long as they qualify based on income and credit. The new rule took effect on January 1, 2020. If you want a more comprehensive understanding of the law, visit the Congressional Research Service.

Why Your Voice Matters

While the change can be beneficial for many, there’s also concern that it could lead some veterans into financial situations they are ill-prepared to handle, potentially leading to higher foreclosure rates among veterans. Others argue the policy change isn’t receiving enough publicity, resulting in many veterans missing out on an opportunity they are entitled to.

Your Call to Action

This is where you come in. Here’s how you can ensure the responsible and effective implementation of this law:

  1. Stay Informed: Continuously educate yourself about the law and its impact on veterans. Official resources like the VA website provide regular updates.
  2. Spread the Word: If you know veterans or their families, make sure they know about the changes in the VA loan limits.
  3. Engage with Local Veteran Organizations: Participate in discussions, forums, or meetings organized by local veteran groups.
  4. Contact Your Representatives: Write to your local and state representatives. Their contact information can be found here. Discuss your concerns about veterans potentially being led into financial hardships or the need to disseminate this information more widely.
  5. Use Social Media: Use the hashtag #VALoanLimits or #VeteranRights to spread the word about the changes in VA loan limits.
  6. Support Nonprofits that Help Veterans: Support organizations like the National Coalition for Homeless Veterans and Veterans of Foreign Wars that work directly with veterans.

Let’s ensure our veterans get the support they deserve, whether it’s affordable housing, financial guidance, or recognition of their service. By taking action, you contribute to the democratic process and help secure a more stable and promising future for our veterans.

As Theodore Roosevelt said, “Do what you can, with what you have, where you are.” It’s time to act now, for our veterans, for our democracy, and for our future. Remember, every voice matters, and every action counts

Celester Thomas

Company Blog – Soldier to Soldier Hawaii Realty

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