Homes for Heroes Act of 2007 - Amends the Department of Housing and Urban Development Act to establish in the Department of Housing and Urban Development (HUD) a Special Assistant for Veterans Affairs to: (1) ensure veteran access to HUD housing and homeless assistance programs; (2) coordinate all HUD programs and activities relating to veterans; and (3) serve as a HUD liaison with the Department of Veterans Affairs.
Directs the HUD Secretary to provide assistance to private nonprofit organizations and consumer cooperatives to expand the supply of supportive housing for very low-income veteran families (that is, families with incomes not exceeding 50% of the area median income).
Amends the United States Housing Act of 1937 to: (1) make housing rental vouchers available to homeless veterans; and (2) include veterans in public housing planning.
Excludes veterans' benefits from income for purposes of HUD assisted housing rental determinations.
Requires the Secretary to: (1) make grants to nonprofit entities for technical assistance in sponsoring HUD housing projects for veterans; and (2) report annually to specified congressional committees and the Secretary of Veterans Affairs on HUD activities relating to veterans.