VA, multiple agencies launch Joint Mortgage and Housing Assistance website for Americans impacted by COVID-19
WASHINGTON – RealEstateRama – To ensure homeowners and renters have current and accurate housing assistance information during the COVID-19 pandemic, the U.S. Department of Veterans Affairs (VA) today, along with several other agencies, launched a new unified mortgage and housing assistance website.
Veterans and service members with a VA home loan, other homeowners with a federally backed mortgage and tenants living in properties with a federally backed mortgage have relief options if they have been financially impacted by COVID-19.
“VA is committed to ensuring Veterans and service members have the financial tools available to make decisions that work for their unique situations,” said VA Secretary Robert Wilkie. “This collaboration provides an invaluable resource, enabling all homeowners and renters to access up-to-date information regarding their housing needs during the COVID-19 pandemic.”
The joint website with the Consumer Financial Protection Bureau, Federal Housing Finance Agency and the Department of Housing and Urban Development consolidates: mortgage relief options, protections for renters, resources for additional help and information on how to avoid COVID-19 related scams. It also provides tools for homeowners to determine if their mortgage is federally backed and for renters to find out if their rental unit is financed by Fannie Mae or Freddie Mac.
During the COVID-19 pandemic, VA continues providing home loan services to Veterans and service members who have earned those benefits, working with lenders, servicers and appraisers on temporary measures to assist in processing and servicing VA home loans.
These measures include offering alternatives for appraisers to determine property value in lieu of interior inspections and providing lenders with additional information to close loans remotely. Such alternative procedures help ensure VA borrowers can close on a home even during this pandemic and prevent foreclosures when possible.
VA borrowers experiencing financial hardship due to COVID-19 can review VA guidance for borrowers and either request forbearance through the mortgage loan servicer collecting their monthly payments or call 877-827-3702 to speak with a VA Home Loan Representative.