"We should have something in place to try to stem people from losing their homes, said Steve Sharpe, an attorney with the non-profit National Consumer Law Center. The Trump administration was warned this would happen."
"Foreclosure. Period. That's really where it's gonna come to, warned Elizabeth Balce, representing the Mortgage Bankers Association, at a hearing in March of 2025 before the House Committee on Veterans Affairs."
Since May of last year, over 10,000 veterans have lost their homes to foreclosure, marking the highest rate for VA loans in a decade. An additional 90,000 veterans are at risk of foreclosure. The crisis stems from the Trump administration's shutdown of a vital safety-net in the VA home loan program, which left many veterans without adequate protections. A previous mistake during the Biden administration exacerbated the situation by abruptly ending a pandemic assistance program, leading to unaffordable repayment burdens for struggling homeowners.
Read at www.npr.org
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