A bill to amend title 38, United States Code, for the purpose of establishing a discounted sales program of homes held by the Veterans' Administration for an extended period.

Authorizes the Administrator of Veterans Affairs to establish a program for the discounted sale of real property, manufactured homes, and lots to which a manufactured home is affixed which have been acquired by foreclosure and held for an extended time by the Veterans' Administration. Limits such sales to veterans who have not previously purchased a dwelling unit and who are eligible for housing loan benefits.

Allows such property to be sold at: (1) not less than 80 percent of the regular price for property offered for sale at least three months but less than seven months; (2) not less than 75 percent of the regular price of property offered for sale for at least seven months but less than a year; and (3) not less than 70 percent of the regular price for property offered for sale for at least one year.