The U.S. Department of Veterans Affairs has announced the termination of its Veterans Affairs Servicing Purchase Program (VASP), which has aided over 17,000 veterans facing mortgage difficulties. The program, designed to prevent foreclosure among veterans, raised concerns from Congressional critics regarding taxpayer investments. As the VA halts the program set to end on May 1, 2025, many veterans face the prospect of losing their homes without a clear alternative for assistance, creating anxiety for approximately 40,000 veterans still in financial trouble.
The U.S. Department of Veterans Affairs plans to end the VASP mortgage rescue program, previously helping nearly 20,000 veterans, raising concerns for others still at risk.
While the VA's VASP program aided 17,109 veterans with affordable loans, the abrupt cancellation has left many veterans uncertain and vulnerable to losing their homes.
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