{"id":77068,"date":"2024-05-29T20:00:00","date_gmt":"2024-05-29T20:00:00","guid":{"rendered":"https:\/\/one.sightlinemg.com\/airforcetimes\/uncategorized\/2024\/05\/29\/va-urges-mortgage-firms-to-extend-foreclosure-pause-until-next-year\/"},"modified":"2026-08-08T16:23:42","modified_gmt":"2026-08-08T16:23:42","slug":"va-urges-mortgage-firms-to-extend-foreclosure-pause-until-next-year","status":"publish","type":"post","link":"https:\/\/one.sightlinemg.com\/airforcetimes\/veterans\/2024\/05\/29\/va-urges-mortgage-firms-to-extend-foreclosure-pause-until-next-year\/","title":{"rendered":"VA urges mortgage firms to extend foreclosure pause until next year"},"content":{"rendered":"\n

Veterans Affairs leaders<\/a> are asking for mortgage servicers to pause nearly all foreclosures <\/a>of department-guaranteed loans through the end of the year as officials launch new efforts designed to keep veterans in their homes.<\/p>\n\n\n\n

The move comes just days before the start of the new Veterans Affairs Servicing Purchase (VASP) program<\/a>, which will allow the department to purchase defaulted VA loans<\/a> from outside mortgage servicers, then modify the terms to allow financially strapped veterans to maintain ownership of the properties.<\/p>\n\n\n\n

Department leaders expect that effort will help about 40,000 veterans, troops and family members currently struggling with VA-backed home loans.<\/p>\n\n\n\n

But others who do not qualify for the program could face property losses starting next month, when the current department-backed moratorium on foreclosures expires.<\/p>\n\n\n\t