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VA Home Loan Program Reform Act

8/1/2025, 10:37 AM

Summary of Bill HR 1815

Bill 119 hr 1815, also known as the "Veterans Home Loan Default Prevention Act," aims to amend title 38 of the United States Code to give the Secretary of Veterans Affairs the authority to take specific actions in the event of a default on a home loan guaranteed by the Secretary.

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

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Current Status of Bill HR 1815

Bill HR 1815 is currently in the status of Signed by President since July 30, 2025. Bill HR 1815 was introduced during Congress 119 and was introduced to the House on March 3, 2025.  Bill HR 1815's most recent activity was Became Public Law No: 119-31. as of July 30, 2025

Bipartisan Support of Bill HR 1815

Total Number of Sponsors
22
Democrat Sponsors
0
Republican Sponsors
22
Unaffiliated Sponsors
0
Total Number of Cosponsors
0
Democrat Cosponsors
0
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 1815

Primary Policy Focus

Armed Forces and National Security

Alternate Title(s) of Bill HR 1815

To amend title 38, United States Code, to authorize the Secretary of Veterans Affairs to take certain actions in the case of a default on a home loan guaranteed by the Secretary, and for other purposes.
To amend title 38, United States Code, to authorize the Secretary of Veterans Affairs to take certain actions in the case of a default on a home loan guaranteed by the Secretary, and for other purposes.

Comments

Leonidas Turner profile image

Leonidas Turner

686

1 year ago

This bill will make it easier for veterans to access home loans.

Kinley Riddle profile image

Kinley Riddle

670

11 months ago

This bill is so dumb, it's gonna mess everything up for us!

Kimber Griffin profile image

Kimber Griffin

769

11 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 profile image

Gerardo Kumar

764

10 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 profile image

Kyren Garner

777

8 months ago

Can't believe they're pushing for this. It's gonna be a mess. Long term effects are gonna be rough.

Sponsors and Cosponsors of HR 1815

Derrick Van Orden
Derrick Van Orden
WisconsinRepublican

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