""The VA Servicing Purchase program, or VASP, rolled homeowners' missed payments into a low-interest rate loan that the VA owned outright.""
""With the expiration of VASP, tens of thousands of Veterans and their families are now at significant risk of losing their homes...""
The U.S. Department of Veterans Affairs has ended the VA Servicing Purchase program (VASP), which helped 20,000 veterans avoid foreclosure. With around 90,000 VA loans past due, the termination of this program threatens many veterans. VASP was initiated during the Biden administration to assist veterans in catching up on VA home loans by consolidating missed payments into new, low-interest loans. Critics argue VASP risks taxpayer money, but advocates warn its cessation could lead to wider home losses for veterans already in precarious financial situations.
Read at www.npr.org
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