"VA's COVID forbearance program termination leaves veterans vulnerable to foreclosure"

1 min read
Source: NPR
"VA's COVID forbearance program termination leaves veterans vulnerable to foreclosure"
Photo: NPR
TL;DR Summary

Thousands of U.S. military service members and veterans, including Army veteran Ray Queen and his family, are at risk of losing their homes due to the end of the Department of Veterans Affairs' Partial Claim Payment program (PCP) that allowed homeowners to move missed mortgage payments to the back end of their loan term. The VA is working on a new program to replace PCP, but it could take several months to implement, leaving many veterans vulnerable to foreclosure. Advocates are calling for a pause on foreclosures and the restart of the PCP program to provide immediate relief to veterans facing financial hardship.

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