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Mortgage Loan Assistance for Veterans During COVID-19

Mar 24 2020

This is part of our ongoing series on mortgage relief options and how to handle your loan in a crisis.

Veterans, how can we sufficiently thank you and your families for the sacrifices you make? At Keep, we feel that helping you successfully buy and maintain a home is the least we can do.

Before we go any further, let us first say that we care deeply and are here to help you through the hardships you may be experiencing during COVID-19.

On the bright side, just because you’re struggling doesn’t mean you will immediately lose your home. You have some time and a number of preventative steps to avoid going into foreclosure.

If you’re a veteran, an active duty service member, a surviving spouse of a deceased veteran or reservist, or National Guard member, just as you may qualify for a low-interest veterans home loan backed by the US Department of Veterans Affairs (VA), you can also receive help if you’re struggling to pay your mortgage during times of emergency.

Here are a few ways the VA can help you now:

  • The VA is offering financial counseling to veterans and surviving spouses. For help with your mortgage during COVID-19, head to the VA Home Loans page.
  • VA technicians are available to provide help with VA direct or VA-backed loans anytime. Don’t have a VA direct loan but still need help? Technicians can help you communicate with your servicer even if you don’t have a VA direct loan.
  • A VA technician will be automatically assigned to your loan if your VA direct or VA-backed loan is 61 days past due.
  • In the middle of applying for a loan? The VA is offering services via phone, email and other electronic methods to those who are still in the application process.
  • The VA is hosting a public health response to COVID-19, in which it is updating veterans on things like where cases are being reported and what to do to stay safe. Find information on the VA Coronavirus page.

Head to “VA help to avoid foreclosure” for more information from the VA.

Visit the Consumer Finance Protection Bureau for more information about your home finances during COVID-19.

If you’re in need of further assistance, check out these posts:

 

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