(June 25, 2004) -- The U.S. House of Representatives recently passed legislation penned by U.S. Rep. Ginny Brown-Waite (R-Fla.) that would boost the maximum Veterans Administration mortgage guarantee from $240,000 to Freddie Mac’s conforming-loan limit of $333,700.

The measure aims to keep the assistance available to veterans in line with higher property prices nationwide. Brown-Waite notes that "the value of their housing benefit should not vary depending on their local housing market, nor should it stagnate while housing prices soar."

The Senate currently is debating a companion bill.

Source: St. Petersburg Times (FL) (06/24/04)