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President Donald Trump on Wednesday signed the VA Home Loan Program Reform Act in the law, strengthening a partial claim program, which aims to prevent veterans from losing their homes.
The Department of Particular Classes of Parties (VA) Home Loan Program will allow the program of new partial claims to be allowed to deal with the tail end of their loans to deal with late payments on hostage payments.
Additionally, the partial claim program attempts to change the Waitors Affairs Services Purchase (VASP) program created under the Biden Administration in 2024, but the Trump administration nixed in May.
Under the VASP program, the VA bought the VA loan late from the hostage servants, adjusting the loan and then offered to the borrowers a fixed 2.5% interest rate for the loan period.
But the VASP program faced an investigation from Republican, who said it was established without input from the Congress and claimed that it threatened the entire VA Home Loan Guarantee program and would be expensive for taxpayers. Overall, VA estimated that it bought more than 17,000 domestic loans over $ 5.48 billion under VASP.
The House passed its version of the VA Home Loan Program Reform Act in May, while Senate passed its version of measurement in July.
“This bipartisan and bilateral law will help veterans who are facing financial difficulties and provide a tool to help VA better in their homes living and avoid criminal.
This is a braking news story and will be updated.
