VA Halts Foreclosures on Veterans with VA-Backed Mortgages

The Department of Veterans Affairs (VA) has announced a six-month halt on foreclosures for veterans and servicemembers with VA Loans, following an investigation that revealed thousands of veterans who took COVID forbearance are at risk of losing their homes. The VA ended the program that allowed homeowners an affordable way to get current on their loans, leaving many veterans facing foreclosure. A new program will be implemented, but it will take several months. Senators have called for an immediate stop to foreclosures, stating that it was not the intent of Congress. The VA plans to purchase and modify loans to help veterans experiencing severe financial hardship keep their homes.