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Mortgage loans guaranteed by the Department of Veterans Affairs continue to have the lowest rate for serious delinquency and foreclosures in the industry, according to a media release.
There are about 1.3 million active home loans that have been obtained using the VA’s Home Loan Guaranty Program which makes home ownership more affordable for veterans, active-duty service members, and eligible surviving spouses by permitting low or no downpayment loans and by protecting lenders from loss if the borrower fails to repay the loan.
Depending on the situation, the VA’s loan specialists can intervene on a veteran’s behalf to help pursue home-retention options such as repayment plans, forbearances and loan modifications.
Information: (877) 827-3702 or visit www.homeloans.va.gov.
