Pub. L. 82-139, tit. VI, sec. 613

Sec. 613. (a) Section 504 of the Housing Act of 1950 is amended by striking out “builder, veteran, or other purchaser” wherever it appears therein and inserting in lieu thereof the following: “builder or other seller, or the veteran or other purchaser”. (b) Section 501 (b) of the Servicemen’s Readjustment Act of 1944, as amended, is hereby amended to read as follows: “(b) Any loan made under this title to a veteran who has not, after April 20, 1950, availed himself of the benefits of this title for the purpose of purchasing residential property or constructing a dwelling to be occupied as his home, the proceeds of which loan are to be used for that purpose, may, notwithstanding the provisions of subsection (a) of section 500 of this title relating to the percentage or aggregate amount of loan to be guaranteed, be guaranteed, if otherwise made pursuant to the provisions of this title, in an amount not exceeding sixty per centum of the loan: Provided, That the amount of any such guaranty shall not exceed $7,500, less the amount with which the 65 Stat. 317veteran’s entitlement for real estate purposes is properly chargeable on account of prior loans, nor shall the gratuity payable under subsection (c) of section 500 of this title exceed that which is payable on loans guaranteed in accordance with the maxima provided for in subsection (a) of section 500 of this title.”