Foreclosed Home Help

VA Can Help Veterans Avoid Foreclosure

The Veterans Administration (VA) is making a special effort to assist veterans who are having trouble making their home mortgage payments.

"VA is reaching out to veterans -- both those who use our home-loan guaranty program and those who don’t take advantage of our guaranties -- to keep people in their homes," said Secretary of Veterans Affairs Dr. James B. Peake in a press release. "I’m proud of our solid record of success in helping veterans and active-duty personnel deal with financial crises."

By beefing up the staff at its regional loan centers, VA can now provide financial counselors to personally offer advice and even work out special financing arrangements to help veterans and active duty personnel with VA-guarantied loans avoid foreclosure.

The VA can work directly with the lenders on the veteran’s behalf to establish repayment plans, forbearance, and loan modifications that can help veterans keep their homes.

To obtain help from a VA financial counselor, veterans can call VA toll-free at 1-877-827-3702 or visit the VA's home loan guaranty program Web site.