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VA pauses foreclosure activity until May 2024
news.va.gov
By pausing foreclosures and extending the COVID-19 Refund Modification program, we can continue assisting Veterans with their loans while we launch our newest home retention option, the VA Servicing Purchase (VASP) program.
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2 Replies
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What does this mean? Does this mean a homeowner with a VA loan will not get foreclosed even if they do not pay their mortgage payments?
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It means they will not foreclose during this time frame and will work with the Veteran to find solutions to retain the home. I assume modifications and silent second mortgages will play a large part in remediation.
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