VA Helps Vets Avoid Home Loan Problems

 

US Department of Veterans Affairs (VA) loan counselors are working to reduce the number of veterans defaulting on VA-guaranteed home loans. VA counselors, who are located at nine regional centers across the country, help veterans avoid foreclosure through both counseling and special financing arrangements.

Based upon each veteran's circumstance, a counselor intercedes with a borrower on a veteran's behalf to pursue repayment, forbearance, loan modifications or other options to help avoid foreclosure.

Home-loan guaranties were first offered to veterans as part of the 1944 GI Bill. Since then, the VA has guaranteed more than 18 million home loans, 135,000 of them just in the past year. Learn more about the program or contact a VA financial counselor, toll-free at 877-827-3702 or through the VA's home loan guaranty program Web site.

(July 2008)