Legislation designed to create a safety net program at the U.S. Department of Veterans Affairs to end veteran homelessness is headed to President Donald Trump’s desk for signature, legislators recently announced.
U.S. Reps. Mike Bost (R-IL), chair of the House Committee on Veterans’ Affairs, and Mark Takano (D-CA), the committee’s ranking member, joined U.S. Sens. Jerry Moran (R-KS), chair of the Senate Committee on Veterans’ Affairs, and Richard Blumenthal (D-CT) in celebrating the passage of the VA Home Loan Program Reform Act. The Congressmen said the law would establish a safety net program within the VA to act as a safety net program to help veterans not lose their homes.
The legislation would create a portal claim program to modernize the VA Home Loan program and allow veterans who have fallen behind on their mortgages to receive federal assistance already available through other federal housing programs. The legislation also includes proper funding levels for the VA Grant and Per Diem program, part of the agencies homelessness prevention programs to fund community agencies that provide services to veterans experiencing homelessness.
“This bipartisan and bicameral legislation will assist veterans who are facing financial hardships and provide VA with a tool to better help veterans stay in their homes and avoid foreclosure. The VA Home Loan Program provides one of the best benefits VA has to offer and has helped veterans and their families build home equity since its inception in 1944,” the Congressmen said in a joint statement. “Today, we are empowering VA to establish a partial claim program as an option of last resort, which will preserve veteran homeownership and save taxpayer dollars by avoiding preventable foreclosures. This legislation will also allow VA to provide critical funding to grantees offering transitional housing to homeless veterans through the Grant and Per Diem program.”
The legislation was supported by a number of stakeholders including the Mortgage Bankers Association, National Association of Realtors, Mission Roll Call, New England Center and Home for Veterans, National Coalition for Homeless Veterans, Veterans of Foreign Wars, and The American Legion.
“MBA applauds the Senate for taking swift bipartisan action to support veterans at risk of foreclosure by passing the VA Home Loan Program Reform Act,” MBA’s President and CEO Bob Broeksmit said. “Since the VA’s previous partial claim authority was sunset without a replacement nearly two years ago, MBA has worked closely with the VA, lawmakers, and our members to advocate for a permanent partial claim option that mirrors the successful programs offered by other federal housing agencies.”