Veterans who are having trouble making payments on home loans they procured with VA home loan guarantees can breathe a bit easier – for now. The Department of Veterans Affairs is extending its existing moratorium on evictions, foreclosures and VA loan forbearance (temporarily paying a lower rate) requests to June 30. The move was made to help veterans whose livelihoods and incomes have been upended by the Covid-19 pandemic, and who had been facing a March 31 end to the moratorium.
“We will do everything in our power to help veterans, their families, survivors and our caregivers get through this pandemic, VA Secretary Denis McDonough said.
The department also said it would continue – through September 30 – suspension of collection on all Veteran benefit overpayments and medical copayment debts incurred after April 1, 2020.
The VA says it will notify Veterans of the existence of their current debt and available expansive relief options (for example, making payments, extending repayment plans, waivers, compromises and temporary hardship suspensions).