Page:United States Statutes at Large Volume 94 Part 2.djvu/255

 PUBLIC LAW 96-385—OCT. 7, 1980

94 STAT. 1533

on such lot) must be owned and occupied by the veteran as such veteran's home; "(iii) the amount of the loan may not exceed an amount equal to the sum of the balance of the loan being refinanced and such closing costs (including any discount permitted pursuant to section 1803(c)(3)(A) of this title) as may be authorized by the 38 USC 1803. Administrator, under regulations which the Administrator shall prescribe, to be included in such loan; "(iv) the amount of the guaranty of the loan may not exceed the original guaranty amount of the loan being refinanced; and "(v) the term of the loan may not exceed the original term of the loan being refinanced. "(B) A loan to a veteran may be guaranteed by the Veterans' Loan guarantee. Administration under this chapter for the purpose specified in clause (F) of paragraph (1) of this subsection without regard to the amount of outstanding guaranty entitlement available for use by such veteran, and the amount of such veteran's guaranty entitlement shall not be charged as a result of any guaranty provided for such purpose. For purposes of section 1802(b) of this title, such loan shall be deemed to 38 USC 1802. have been obtained with the guaranty entitlement used to obtain the loan being refinanced. "(C) If a veteran is deceased and if such veteran's surviving spouse Surviving was a co-obligor under an existing loan previously guaranteed, spouse. insured, or made under this section, such surviving spouse shall, only for the purpose specified in clause (F) of paragraph (1) of this subsection, be deemed to be a veteran eligible for benefits under this chapter.". (c)(1) Section 1803(c)(3)(A) is amended by striking out "section 38 USC 1803. 1810(a)(5)" and inserting in lieu thereof "clause (5) or (8) of section Ante, p. 1532. 1810(a) of this title or section 1819(a)(1)(F) of this title". (2) The second sentence of section 1811(b) is amended by inserting 38 USC 1811. "(other than the refinancing of a loan under section 1810(a)(8) or 1819(a)(1)(F))" after "section 1810(a) or 1819 of this title". INCREASES IN MAXIMUM AMOUNTS OF VETERANS HOME-LOAN GUARANTIES

SEC. 402. (a) Section 1810(c) is amended by striking out "$25,000" 38 USC isio. and inserting in lieu thereof "$27,500". (b) Section 1811(d)(2) is amended— 38 USC i8ii. (1) by striking out "$25,000" both places it appears in subparagraph (A) and inserting in lieu thereof "$27,500"; and (2) by striking out "$17,500" both places it appears in subparagraph (B) and inserting in lieu thereof "$20,000". (c) Section 1819(c) is amended by striking out "$17,500" each place 38 USC 1819. it appears and inserting in lieu thereof "$20,000". TITLE V-MISCELLANEOUS PROVISIONS EXTENSION OP AUTHORITY FOR VETERANS' ADMINISTRATION OFFICE IN THE REPUBLIC OF THE PHIUPPINES

SEC. 501. Section 230(b) is amended by striking out "1981" and inserting in lieu thereof "1985".

38 USC 230.

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