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VA Home Loan Program Reform Act
8/1/2025, 10:37 AM
Summary of Bill HR 1815
The bill allows the Secretary to provide financial counseling and assistance to veterans who are at risk of defaulting on their home loans. This includes helping veterans explore options to avoid default, such as loan modifications or refinancing. Additionally, the Secretary is authorized to work with lenders to find solutions that will prevent foreclosure and help veterans stay in their homes.
Furthermore, the bill includes provisions to streamline the process for veterans to apply for assistance in the case of a default. This includes establishing clear guidelines for eligibility and ensuring that veterans receive timely and effective support. Overall, the goal of Bill 119 hr 1815 is to provide veterans with the necessary resources and support to prevent default on their home loans and avoid the devastating consequences of foreclosure. By empowering the Secretary of Veterans Affairs to take proactive measures, this legislation aims to protect the financial well-being of our nation's veterans and ensure they have access to stable housing.
Congressional Summary of HR 1815
VA Home Loan Program Reform Act
This bill authorizes the Department of Veterans Affairs (VA) to take certain actions in cases of default on home loans under the VA home loan program and establishes a partial claim program.
First, the bill authorizes the VA to pay the holder of a loan guaranteed by the VA an amount necessary to avoid the foreclosure of the loan, provided that the holder of the loan and the veteran obligated on the loan execute documents to ensure the VA obtains a secured interest in the property covered by the loan.
The VA must prescribe loss mitigation procedures to help prevent the foreclosure of such a home loan. The VA may not take specified administrative actions (e.g., consent to the modification of loan terms) until the sequence of mitigation options has been completed.
Next, the bill establishes a five-year Partial Claim Program under which the VA may make a partial claim (purchase a portion of the indebtedness) on VA loans for primary residences that are in default or at imminent risk of default. Individuals who default on loans for which the VA has made a partial claim under this program must be liable to the VA for any loss resulting from the default.
Finally, the VA must report to Congress on its strategy to ensure that veterans who purchase homes under the VA home loan program are not at a disadvantage when attempting to secure representation by a real estate agent or broker.
Read the Full Bill
Current Status of Bill HR 1815
Bipartisan Support of Bill HR 1815
Total Number of Sponsors
22Democrat Sponsors
0Republican Sponsors
22Unaffiliated Sponsors
0Total Number of Cosponsors
0Democrat Cosponsors
0Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 1815
Primary Policy Focus
Armed Forces and National SecurityAlternate Title(s) of Bill HR 1815
Comments
Leonidas Turner
8 months ago
This bill will make it easier for veterans to access home loans.
Kinley Riddle
6 months ago
This bill is so dumb, it's gonna mess everything up for us!
Kimber Griffin
6 months ago
I'm glad to see progress being made with this bill. It's important to support our veterans and their families.
Gerardo Kumar
6 months ago
I think this bill is gonna help a lot of folks like me who served our country. It's about time they did something to make it easier for us to get home loans. I'm excited to see how this all plays out in the long run.
Kyren Garner
4 months ago
Can't believe they're pushing for this. It's gonna be a mess. Long term effects are gonna be rough.
