Posted on Nov 11, 2023
Thousands of veterans face foreclosure and it's not their fault. The VA could help
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https://www.npr.org/2023/11/11/ [login to see] /veterans-va-loans-foreclosure-covid-forbearance
Becky Queen remembers opening the letter with the foreclosure notice.
"My heart dropped," she said, "and my hands were shaking."
Queen lives on a small farm in rural Oklahoma with her husband, Ray, and their two young kids. Ray is a U.S. Army veteran who was wounded in Iraq. Since the 1940s, the federal government has helped veterans like him buy homes through its VA loan program, run by the Department of Veterans Affairs.
But now the VA has put this family on the brink of losing their house.
"I didn't do anything wrong," says Ray Queen. "The only thing I did was trust a company that I'm supposed to trust with my mortgage."
Becky Queen remembers opening the letter with the foreclosure notice.
"My heart dropped," she said, "and my hands were shaking."
Queen lives on a small farm in rural Oklahoma with her husband, Ray, and their two young kids. Ray is a U.S. Army veteran who was wounded in Iraq. Since the 1940s, the federal government has helped veterans like him buy homes through its VA loan program, run by the Department of Veterans Affairs.
But now the VA has put this family on the brink of losing their house.
"I didn't do anything wrong," says Ray Queen. "The only thing I did was trust a company that I'm supposed to trust with my mortgage."
Thousands of veterans face foreclosure and it's not their fault. The VA could help
Posted from npr.org
Housing
Home
Homeless
Posted 1 y ago
Responses: 2
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Key quote from article: “The homeowners entered into COVID forbearances, they were made certain promises, and there were certain representations that were made," says Kelly. "And the VA essentially pulled the rug out from under everybody."
VA did not properly transition out of coronavirus restructuring for payments. Mortgage companies want back money now instead of resuming from a pause.
VA did not properly transition out of coronavirus restructuring for payments. Mortgage companies want back money now instead of resuming from a pause.
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Very sad, but also a good lesson on why it's always wise to be skeptical on any program that let's you "skip" payments.
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