Veteran Affairs: short-term solution to avoid foreclosures on VA-Backed Home Loans. Contact ProtitleUSA today to learn how our Company can help in this process.
In addition to the FHFA extension of the foreclosure moratorium through May 6, 2024. Veteran Affairs is calling on mortgage servicers to pause foreclosures of VA-guaranteed loans through May 31, 2024.
During this pause, VA bets on the next foreclosure avoidance measures to be available for servicers for workable home retention solutions for Veterans and at the same time VA is extending the COVID-19 Refund Modification program through May 31, 2024.
VA is planning to launch a new home retention option called the VA Servicing Purchase (VASP) program, where VA will purchase defaulted VA loans from mortgage servicers, modify the loans, and then place them in the VA-owned portfolio as direct loans.
Don't hesitate to contact ProtitleUSA
directly to learn how we can be a one stop shop for a complete due diligence for title and mortgage collateral in this process.