XPost: alt.fan.rush-limbaugh, alt.politics.democrats.d, or.politics
XPost: talk.politics.guns
Lee wrote:
Trump's VA strands thousands of veterans
by ending a key mortgage program
The U.S. Department of Veterans
Affairs, as of Thursday, has ended
a new mortgage-rescue program that
so far has helped about 20,000
veterans avoid foreclosure and keep
their homes.
The move leaves millions of military
veterans with far worse options than
most other American homeowners if
they run into trouble paying their
home loans. And it comes at a time
when nearly 90,000 VA loans are
seriously past due, with 33,000 of
those already in the foreclosure
process, according to the data and
analytics firm ICE.
At issue is the VA Servicing
Purchase program, or VASP. It was
put in place during the Biden
administration after missteps by
the VA left homeowners with no
affordable way to catch up on their
VA-backed home loans if they fell
behind. VASP rolls the homeowners'
missed payments into a new, low-
interest rate loan that the VA
then owns outright. With today's
higher mortgage rates of around
7%, it is often the only affordable
option for homeowners with VA loans.
Mortgage industry groups, housing
advocates and veterans organizations
have been warning the VA that
shutting down VASP without replacing
it with something else first would
result in large numbers of veterans
losing their homes, many of whom
are in this financial peril because
of the VA's own mistakes. https://www.npr.org/2025/05/01/nx-s1-5382448/va-veterans-affairs-mortgages-foreclosure-vasp
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