A recent settlement between the Department of Veterans Affairs (VA), Department of Justice, and 5 of the nation’s largest banks has brought in $25 million in loan assistance and many new resources for veterans, service members, and military families in danger of losing their homes.
The settlement provides cash relief to avoid litigation in foreclosure cases, as well as establishing new protections for service members in danger of defaulting on their VA loans. The banks agreed to assist veterans in obtaining interest-rate-reduction refinancing, principal forgiveness, and allow for forbearance during unemployment.
In addition to these new agreements, the Service Members Civil Relief Act was also enhanced with new protections for service members who are forced to sell their homes, due to relocation during service. These changes enhance the existing VA loan assistance program that has protected more than 72,000 veterans who were in danger of foreclosure in 2011.
Even veterans who don’t have home loans through the VA can take advantage of their toll-free loan help hotline at 877-827-3702 and speak with a VA loan specialist. The national number can provide information about the VA loan program as well as options for avoiding foreclosure with the VA’s help.
Home loan programs are part of the many benefits available to veterans through the VA. Veterans’ disability benefits can also help provide disabled veterans and their families with financial assistance for living expenses, health care, and much more.
If you are a veteran who has been denied disability compensation or have not yet applied for benefits from the VA, a South Florida disability attorney from LaVan & Neidenberg is ready to help. To learn if you are entitled to certain programs and benefits contact our veteran’s disability rights firm today – 1-888-234-5758.