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system, have “absorbed” the discount before quoting a selling price, and the veteran has paid the half-hidden charge at settlement.)
5. The veteran went back to the Veterans Administration with the tale. He asked that he now be considered for a direct loan. Ob• viously, he had been unable to cldse a loan with the private lender. The Veterans Administration, under its interpretation of the law," told the veteran that he had lost his chance—private financing was “available” to him, and he had not taken advantage of it. ,f The veteran was left out in the cold—despite the promises of his. Government that the new VHM CP was set up to help him get a loan on reasonable terms, and despite the fact Congress had appropriated money for direct housing loans if the private loan could not be located for him. Meanwhile, the direct loan money, provided by the taxpayers, piled up in the Veterans Administration offices, without benefit to veterans. The veteran either had to break the law by creating a fiction that • the seller had agreed to pay the discount when he (the veteran) actually was paying it—or, abandon his plans to buy the house.
This realization was particularly bitter when the veteran recalled that the first cases processed) under the much-heralded VH'
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