War Housing Insurance Law and Legal Definition
War housing insurance is a form of mortgage insurance. War Housing insurance is a relief provided for a housing shortage by the federal legislature. According to 12 USCS § 1738, war housing insurance provides relief in removing the acute shortage of housing and also to increase the supply of housing accommodations available to veterans of World War II at prices within their reasonable ability to pay. It is also available for housing loan lenders, protecting against homeowner mortgage default.