VA Announces Limited Mortgage Relief for Veterans Facing Foreclosure After COVID Forbearance

The VA announced a program to help veterans facing foreclosure due to issues with COVID mortgage forbearance programs, but many impacted won't qualify.

The VA ended a program allowing vets to move missed payments to the end of their loans, leaving them trapped without affordable options.

The new VA program will offer qualifying vets loan modifications with 2.5% interest rates.

But vets pushed into costlier loan modifications won't get help - they must be in default a certain amount of time.

One veteran may qualify for the 2.5% rate under the program, but his loan term may be extended to 40 years, leaving uncertainty.