Center for Responsible Lending: VA Foreclosure Pause Will Prevent Thousands of Veteran Foreclosures
November 21, 2023
November 21, 2023
WASHINGTON, Nov. 21 -- The Center for Responsible Lending issued the following news release on Nov. 20, 2023:
Late Friday, the U.S. Department of Veterans Affairs called on mortgage servicers to pause foreclosures until May 31, 2024. This pause will give VA borrowers a much-needed opportunity to access the upcoming VA Servicing Purchase (VASP) program. Through VASP, the agency will modify and purchase qualifying loans in default to provide meaningful payment assistance to VA borrowe . . .
Late Friday, the U.S. Department of Veterans Affairs called on mortgage servicers to pause foreclosures until May 31, 2024. This pause will give VA borrowers a much-needed opportunity to access the upcoming VA Servicing Purchase (VASP) program. Through VASP, the agency will modify and purchase qualifying loans in default to provide meaningful payment assistance to VA borrowe . . .