VA’s moratorium on evictions and foreclosures will extend through at least June 30, the department announced Feb. 16, lengthening pandemic-related protections that were set to expire March 31.
The department also will extend VA loan forbearance requests to June 30, per the news release. The changes come alongside similar extensions for all federally backed home loans announced by the White House.
“We will do everything in our power to help Veterans, their families, survivors and our caregivers get through this pandemic,” VA Secretary Denis McDonough said in the news release.
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Policies regarding requests for forbearance – in this case, the ability to stop or reduce mortgage payments resulting from pandemic-induced financial hardship – are outlined in a VA circular outlining the extension. Those with VA-guaranteed loans who requested 12-month forbearance on or before June 30, 2020, can receive two extensions of up to three months each. The extensions can’t last past Dec. 31, 2021, per the circular.
VA home loan beneficiaries can refer to this list of frequently asked questions for more details on relief options. VA Regional Loan Center staff can also answer questions; contact your nearest loan center by calling (877) 827-3702.
For more relief options, including those seeking relief on non-VA-backed loans, visit the Consumer Finance Protection Bureau’s website.