H.R. 1815
Changes how the VA handles defaults on veteran home loans
Lets the VA pay to stop foreclosure on guaranteed home loans if it gets a stake in the property, starts a five-year partial claim program, and boosts housing funding for homeless veterans.
- VA may pay a loan holder to avoid foreclosure, if the VA gets a secured interest in the property
- Creates a five-year partial claim program for VA loans on primary homes in default or near default
- Sets loss mitigation steps the VA must complete before it can agree to change loan terms
- Temporarily raises funding in 2025 and 2026 for housing and services for homeless veterans
Became law · Public Law 119-31