What Went Wrong?

After missing three monthly payments, you are considered "seriously delinquent". When this happens, the VA offers you help from a VA Loan Technician. They in turn should be your advocate to guide you through the process of identifying the best home retention options for you.  They should be working on your behalf with your servicer.  If this didn't happen, let us know. If you have a technician, but they are not helpful, let us know. To contact a VA Loan Technician, call 877-827-3702 or LGYLANational.VBACO@va.gov.  

From 7/27/2021 to 10/28/2022, the VA provided a program for all individuals in forbearance to place all missed mortgage payments into a no interest balloon payment loan you would owe at the end of the life of your loan.  As most mortgage loan payment periods are 15 or 30-years long, this gives you time.  However, when the Partial Claim Program ended, most VA-guaranteed borrowers were left stranded.  Some Servicers required payment in full.  Did this happen to you?  We would love to hear about it. 

In the midst of the pandemic, it was hard for everyone.  Those hardest hit were qualified for a full 20% reduction in both the principal and interest payments on a monthly basis.  This was designed to keep you in your home after the first nationwide foreclosure moratorium was lifted in July 2021. This VA program covered all US government VA-backed mortgage loans and borrowers.  However, this quickly became unsustainable and mortgage servicers did not comply with this program.  Was this offered to you? Tell us more. 

On 7/23/2021, a Presidential Executive Order declared that every borrower who had taken forbearance would be eligible for a loan modification to stay in their home.  Some servicers modified those loans, to lower the monthly payments, stretch out the loan life, or change other facets to make the loan affordable. However, many servicers did not offer loan modifications, but rather offered to refinance the loan at a higher rate. This left most borrowers with higher monthly payments leading to more delinquencies, defaults, foreclosures and homelessness.  Is this your story?  Please share it with us.

Since February 9, 2024, Servicers of VA-backed loans are to make available to you the option to defer all your missed payments through the lengthening of the life of your loan up to 40 years. Every VA borrower should qualify. Call your servicer today and ask for help based on the VA Circular 26-24-3. If they refuse, let us know immediately as we will help you issue a Notice of Error. Servicers are required to comply. We can help you correct this wrong.  This program expired on June 1, but has now been extended to 2024 so act fast. E-mail us at help@stand-for-justice.com today.

Banks and Servicers were instructed to educate you on how to apply for Homeowners Assistance Funds (HAF) provided by the American Rescue Plan Act.  Billions of dollars were provided to States, Territories and Tribal lands to help homeowners everywhere with financial help.  Each state administers the funds as they see fit. Some states funds are depleted.  Others are still available.  If your Servicer did not offer this option to you, while your state fund was open and you had need, this is wrong.  They failed. Tell us about what happened.