More than 10,000 veterans lost their homes to foreclosure since May of last year, when the Trump administration shut down a key safety net in the VA home loan program, according to the latest industry data. That is the highest pace of foreclosures for VA loans in a decade.
Another 90,000 vets are heading toward foreclosure. This comes after a years-long debacle inside the Department of Veterans Affairs has whiplashed thousands of vets between various enacted and canceled programs and left many of them on the brink of losing their homes — often through no fault of their own.
A loan backed by the VA is considered one of the most valuable benefits for military service members and has helped millions achieve homeownership. But for nearly a year now, vets have had worse protections and options than most other homeowners if they fall behind.
" We should have something in place to try to stem people from losing their homes," said Steve Sharpe, an attorney with the nonprofit National Consumer Law Center.
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