"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.
Also See:
VA Releases 2008 Veterans Benefits Booklet
Veteran's Suicide Prevention Hotline Begins Operation
Comments
my father is a vetern and is 83 yrs. old works full time my mother is ill. Wells Fargo morgage co. is his mortage company they are putting his home into foreclosure he tried to work with them no one will work with him what can he do the only thing he wants to do is die in his house so far no one will help he has asked hud and other people who say there is hope what shoud he do?
the banks say they dont have to cram down principles on VA loans because the loan is guarenteed by the government. so the take the bail out, the take the loan and then they sell the house….can you say win win win for the banks and lose for the veteren. who is gonna make this right…if the government pays my default then i want to then repay them leaving the bank out completerly and as for the 20% not ccovvered…..they can eat it!
I am a disabled veteran. Our loan is now with Bank of America. No matter what we try, they won’t work with us. Why? When I call them (over 15 times this month alone), they tell me that they know we are trying to work it out, but that we have a sale date of December 6th. Obama is not helping with his “foreclosure” assistance. Anyone know what we can do? I am at a loss and getting desparate.
my husband is a veteran and we have a loan with wells fargo. no matter what we do they will not help us. they claim that they don’t receive the correct papers or that we make more then we do by atleast 300.00. we tried several other companies and they won’t help either. we are about to lose our home and we have 4 small children ages 8 and under. what are we suppose to do.
Please do not bank on the usual VA fluff. they will not be with you and your family crying on the porch crying as corp. America takes away your American dream.we all make our sacrifices with consequences for life.More than hundreds of veterans have been told that we need to adapt overcome and move on. Please take care of each .other or remember the look on your families face because you believe they are there for you.
Sometimes it helps if a mortgage counselor talks to your mortgage company for you. (to find one in your area, try this website http://www.makinghomeaffordable.gov/index.html)
Or if that doesn’t work, having a lawyer call may help.
I am a Vietman Veteran on disability and in danger of foreclosure. My loan is with Bank of America. It is impossible to communicate with them. We have repeatedly submitted the paperwork to no avail. What options do I have at this point?
Margaret’s advice is probably the best. Depending on the state in which you reside, you could also ask one of your representatives if they could help.
In Nevada, I’ve heard some people have been helped by both Dean Heller’s and Senator Reid’s offices.
If you have a VA loan and can’t make your payments can the VA garnish your VA disability check or your Military retirement check?
Susan.. no a veterans disability can not be garnished for any reason at this time.. of course with all the crooks in Washington being on the side of the crooks that could change anytime
My husband retired at the worst possible time (May 2009) after 25 years of honorable service. He had to retire due to a medical issue. We also reside in California (one of the highest unemployment & foreclosure states) we bought a house in good faith and was one day looking forward to a nice relaxing retirement. Looking back now at all his deployments and the stress and fear of him never coming home was nothing compared to what we are going through now. Our loan is with BOA. They keep telling us to call the VA, the VA keeps telling us to call BOA. I keep reading that the VA wants to help. That BOA wants to help. No one is helping us or has given me the impression that they want too. We are fortunate that we do have income (just not enough for this house). We are going to be another static and another home on our block for sale. Good luck to everyone.
My husband is a VA veteran and lost his job in 2008 but has been re-employed after 2 years of financial hardship. Bank of America refuses to modify our loan even though we qualify for the HAMP program. In a recent study by Capital Economics, 60% of all houses for sale are going to foreign investors for cash. The bank, rather than modifying the loan of a VA, offers us a short sale where a foreign investor can buy this modest home for pennies to the dollar. My husband has put his life on the line to defend American values-he does not deserve this-nor does any other American family.
Don’t expect the VA to help, it’s all bunch of smoke and mirrors. Making home affordable is a joke, the only thing they can do is tell you how many ways you don’t qualify for assistance under Obama’s wonderful plan. I was discharged after I broke my back we’ve been scraping by for the last year. We’ve sold off every thing of value and exhauseted all savings to keep a roof over our heads. The VA determined my injuries were service connected but through their clerical error denied benefits. I’ve come to accept the fact we’ll be homeless in the near future. I given up. Good luck to everyone else.
My husband is a veteran, he owns a house with his brother who is still in the military. we have alot of family problems with his wife who lives in the little house behind ours on the same property. my husband has ptsd, he cant work with other people cause he is alway suspicious of them, he has anxiety attacks alot whitch makes it hard for him to work. we are getting ready to be forclosed on next month. my husband co signed for his brother, he wants to be off the deed, does anyone have any information that could help us. he co signed to help his brother out but all my husband got is aggrivation, stress, and worry that HIS family will be without a home. please if anyone has any info please share it with me!!
By seeing all of these comments, my assumptions about Obama’s fabulous “save my mortgage” program are confirmed. It was all false promises to get people’s votes. Done like a true politician. Is there anybody at all that has been approved for this? I have been jumping through hoops for my mortgage “companies” (yes plural) for over a year now. I was approved for a temporary modification after 6 months of submitting & re-submitting paperwork. I went to make my 1st payment and found out my mortgage was sold to another servicer. Fine. I had to fill out the paperwork again for the 2nd company. I had to go to foreclosure mediation. There were 2 lawyers, a mediator, myself, my now ex-wife & an “executive” from the mortgage company on the phone. The person on the phone was supposed to be somebody that could make a final decision about my mortgage. That day I was told that I was approved for a temporary modification with their company.
Again, I go to make my first payment and nobody knows the guy on the phone & nobody knows anything about the mediation. 8 moths later (+/-14 months total) after submitting & re-submitting paperwork, I was told that my modification was denied. What the hell?
I was hoping that the VA could help me with my modification, but it doesn’t look like thats going to work. What now???
I write for examiner.com. I have not heard from many people who have had a good experience. I know of one family in Nevada that received a modification but it took 2 mediations and concessions on their part before they got it.
What I’ve heard is that the banks blame the Treasury Department indicating they don’t make the rules. But the fact is, their underwriting departments have to FOLLOW those rules and it seems it is quite subjective in some cases.
I don’t believe the VA programs available are being implemented because they can’t find investors to fund them. If your modification was denied, try appealing. One family I know did get the appeal overturned. Write to your Attorney General. All 50 attorneys general are reviewing the banks for fraud, etc. But they need the real people’s stories to determine the truth.
I wish you the best of luck.
Wells Fargo has continuously refused to work with me. I am a disabled vet and with my disability plus my wifes income we were able to make our payments. my wife recently lost her job and has been in and out of the hospital for the past several months. Wells Fargo constantly asks for paperwork we have already provided, in fact the last time they asked for the same paperwork again my wife and I went into the local banking office, sat down with the branch manager had him contact the mortgage representative, verify that the paper work was all there and correct and verify that the fax was sent and received. two weeks later the same representative called once again requesting the same paper work that he had already verified receiving. the next week my wife was put back into the hospital, had several procedures and a surgery and when we arrived home from the hospital we received a notice from wells fargo that we were being put into foreclosure because neither my wife nor myself were willing to contact or work with the representatives. I am now playing phone tag with both the VA rep and the Wells Fargo rep as well as the foreclosure attorneys trying to keep from becoming homeless
@ Jay- I am not a lawyer, nor can I provide legal advice but I know a lot of people have appealed to the attorney general in their states with some success.
You don’t mention in which state your reside but I would also suggest going to one of the non-profit organizations that assist with the HAMP program. There is no charge for their services. Act quickly because the law will not wait.