On May 31, the Department of Veterans Affairs launched its new Veterans Affairs Servicing Purchase (VASP) program to help more than 40,000 veterans experiencing severe financial hardship avoid foreclosure and stay in their homes.
VASP is a last-resort tool in the VA’s suite of home retention options for eligible veterans, active-duty service members and surviving spouses with VA-guaranteed home loans who are experiencing severe financial hardship.
Veterans won’t need to apply to VASP directly, as mortgage services will identify qualified borrowers and submit requests on their behalf. If you are a veteran or surviving spouse who is having trouble making your mortgage payments, please contact your loan service to discuss your potential options.
For more information
If you’d like help or advice, please contact a VA loan technician at 877-827-3702 or your nearest DAV service office by visiting benefitsquestions.org.
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