Posted on Nov 18, 2023
VA halts foreclosures for thousands of veterans about to needlessly lose their homes
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https://www.npr.org/2023/11/17/ [login to see] /va-halts-foreclosures-veterans
The Department of Veterans Affairs is halting foreclosures for 6 months for veterans and servicemembers who have VA Loans.
The move follows an investigation by NPR that found thousands of veterans who took what's called a COVID forbearance are now at risk of losing their homes through no fault of their own.
The Department of Veterans Affairs is halting foreclosures for 6 months for veterans and servicemembers who have VA Loans.
The move follows an investigation by NPR that found thousands of veterans who took what's called a COVID forbearance are now at risk of losing their homes through no fault of their own.
VA halts foreclosures for thousands of veterans about to needlessly lose their homes
Posted from npr.org
Veterans Affairs (VA)
Housing
Home
Posted 6 mo ago
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PO1 William "Chip" Nagel good day Brother William, always informational and of the most interesting. Thanks for sharing, have a blessed day!
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PO1 William "Chip" Nagel
..."The VA said in its statement that by pausing foreclosures "we can continue assisting Veterans with their loans while we launch our newest home retention option." Through the new program, the VA says it will basically purchase the loans back from the companies that currently hold them, modify them and then hold them within a VA-owned loan portfolio.
"This will empower us to work with Veterans experiencing severe financial hardship to adjust their loans – and their monthly payments – so they can keep their homes," Hayes said in a statement."...
..."The VA said in its statement that by pausing foreclosures "we can continue assisting Veterans with their loans while we launch our newest home retention option." Through the new program, the VA says it will basically purchase the loans back from the companies that currently hold them, modify them and then hold them within a VA-owned loan portfolio.
"This will empower us to work with Veterans experiencing severe financial hardship to adjust their loans – and their monthly payments – so they can keep their homes," Hayes said in a statement."...
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