CASH SALES OF PROPERTIES ACQUIRED THROUGH FORECLOSURES.

SEC. 7003. CASH SALES OF PROPERTIES ACQUIRED THROUGH FORECLOSURES. (a) In General.— Section 1816(d)(1) of title 38, United States Code, is amended by striking out “not more than 75 percent, nor less than 60 percent,” in the first sentence and inserting in lieu thereof “not more than 65 percent, nor less than 50 percent,”. (b) Effective Date.— The amendment made by subsection (a) shall take effect as of October 1, 1987.