Tell the VA: Fix your mistake. Buy back predatory loans from veterans forced into foreclosure now!
A recent NPR investigation into the Veterans Affairs' handling of VA home loans has unveiled a distressing reality.
During the COVID-19 pandemic, the VA allowed veterans with VA home loans to take a COVID forbearance, which was meant to provide temporary relief by allowing them to skip mortgage payments.
Veterans were assured that these missed payments would be added to the end of their loan terms, ensuring they wouldn't face immediate financial strain. However, the VA inexplicably and abruptly terminated this program, leaving veterans with insurmountable debt and looming foreclosures.
This systemic failure has not only endangered the homes of thousands of veterans but has also betrayed their trust in a system designed to support them.
While the VA has taken the step to stop foreclosing on veterans currently facing this dire situation, many veterans still have these predatory loans and face the possibility of future foreclosures.
It’s not enough to halt foreclosures temporarily. The VA must develop and implement a comprehensive plan to address the financial damages inflicted on veterans, including buying back predatory loans, providing financial compensation, and ensuring such a crisis does not reoccur.
Tell the VA: Fix your mistake. Buy back predatory loans from veterans forced into foreclosure now!