Thousands of homes owned by veterans and their families are in danger of foreclosure due to the COVID pandemic. Just announced is an expanded government-wide effort to help homeowners retain their homes as they weather the economic challenges.
A major new VA Home Loan program will help save the homes of an estimated 2.3 million veterans impacted by COVID-19. These veterans need a significant reduction in their monthly mortgage payments to avoid foreclosure.
The new VA Partial Claim Program, which will bring certain borrowers current on their mortgage as they resume regular mortgage payments, will remain in effect until Oct. 28, 2022.
For others looking to buy a home, due to limited housing stock in some areas and historically low-interest rates, prices have increased significantly. In this seller’s market, the VA Home Loan Guaranty Service offers incredible cost-saving benefits. For more than 70 years, the popular Veterans Affairs Home Loan Program has enabled millions of eligible service members, veterans, reservists, National Guard members, and certain surviving spouses to buy, build, repair, retain or adapt a home.
To learn visit their Website: https://www.va.gov/housing-assistance/home-loans/