If you anticipate getting behind on your mortgage payments, or are behind, VA may be able to help. The information below addresses options you may have to bring your loan current and save your home from foreclosure.
When your loan goes into default, your servicer/holder is responsible for contacting you, the mortgagor, to determine the reason for the default and attempt to make arrangements to cure the delinquency. If the problem can not be resolved by the time you are two payments past due, the servicer/holder is required to notify VA that your loan is in default. For detailed information on how to reach one of our Loan Service Representatives, please go to our Contacts Page. You should be prepared to discuss:
Most foreclosures result in losses to everyone involved, the veteran, the servicer/holder, and VA. Many foreclosures can be avoided, particularly when all parties work together.
The following are methods of avoiding foreclosure:
|Pay the Delinquency|
|Forbearance and Repayment|
|Deed in Lieu of Foreclosure|
Contact the Cleveland Regional Loan Center:
U.S. Department of Veterans Affairs - 810 Vermont Avenue, NW - Washington, DC 20420
Reviewed/Updated Date: March 6, 2012