Earl Blumenauer: “For over 60 years, Oregonians have provided a benefit to our returning veterans of home loans that were below market…”

“For over 60 years, Oregonians have provided a benefit to our returning veterans of home loans that were below market rate to be able to help them reestablish themselves in the community and as a small gesture of our appreciation for their sacrifice. Unfortunately, with the recent flood of returning veterans from Iraq and Afghanistan, we found that that program has been stretched to the limit and we were faced with denying them access. Working with Mr. Neal, Chairman Rangel, the committee and subcommittee, we were able to make an important adjustment, a 400 percent increase in the loan cap, so that we will be able to fully meet the needs of returning Oregon veterans, and along the way it will help people in Alaska, Wisconsin, Texas, and California. In this time of uncertainty in the housing market, giving these important loans to our veterans is an important gesture. I appreciate the work that the committee has done to make this a reality.”