Our veterans have exemplified the highest levels of sacrifice and courage, defending our freedom and safeguarding our way of life. It is our duty as a grateful nation to ensure that their sacrifices are not in vain. However, the alarming prevalence of veteran foreclosures has cast a dark shadow on the lives of our brave heroes and their families. Keep Our Vets Housed (KOVH), calls upon the VA and governmental agencies on all levels to take immediate and urgent action. We urge them to make this crisis a high priority, and allocate the budget resources necessary to expand the loss mitigation options available under the VA Home Loan Guaranty Program.

Keep Our Vets Housed, along with our growing number of "In distress" veteran families, and supporters, strongly urge the VA Home Loan Program and US government to immediately halt all current foreclosure actions while these issues are reviewed and addressed, and new and more properly funded loss mitigation tools established and put into effect.

KOVH, veterans and their families urge the VA and US government to immediately implement the following:

1.) HALT Veteran Foreclosures: With the clear, urgent, and immediate need for the VA Home Loan Program to put better loss mitigation tools and resources in place, veterans and their families currently facing or about to face foreclosures on their homes, will become homeless without intervention. Qualifying for the currently available loss mitigation options, has proven difficult. Halting these foreclosures while this matter is reviewed and addressed will not only save homes, but lives as well. Numerous studies showing the direct connection between homelessness and suicides.

2.) REINSTATE the VA Partial Claim Program: Dramatic increases in interest rates has undermined the effectiveness of VA loss mitigation programs by hindering the loan servicers' ability to help borrowers avoid foreclosure. This invaluable program expired on October 28, 2022, and helped so many veterans keep their existing loans current by providing them payment relief or assistance in making up missed payments, while keeping their original mortgage rates (which are much lower than currently available rates).

3.) RECONFIGURE and expand the statutorily authorized refund program, which enables the VA to purchase delinquent loans from servicers and change the terms of the original loans to reduce veterans’ monthly payments.

4.) EXTEND mortgage repayment out to a full 40-year term if needed to reduce a veteran's monthly mortgage payment to an affordable level.

5.) EXPAND the use of limited documentation applications, which lowers the administrative burden for veterans to qualify for loss mitigation options
 

KOVH supports any and all legislation that gives the VA the authority and resources to begin helping these veterans and their families whom are now facing having to fight a whole different kind of war right here at home, on our soil. A war not which has them fighting to protect their families from homelessness and poverty because the very country they put (and would gladly still put) their lives on the line for, refuses to address or help them when they send out the call for help. Too many brave heroes have already lost their homes, too many veteran families have had their lives turned upside down, were torn apart, or forced out on our streets. Our veterans have exemplified the highest levels of sacrifice and courage, defending our freedom and safeguarding our way of life. It is our duty as a grateful nation to ensure that their sacrifices are not in vain.

KOVH urge the VA, US government and its representatives, to make the issue of keeping America's brave veterans and their families in their homes and off our city streets. this growing problem a priority and show America's Heroes and their families, that their years of bravery, sacrifice and courage has not been forgotten. They answered the call to serve, to protect and defend this nation from foreign and domestic threats. They did so without hesitation or question. Now that these brave men and women find themselves needing this nation to answer their call, it should be our duty to do the same. 

Finally, We call on Congress to take action by creating a veteran mortgage committee tasked with investigating these issues and finding solutions that will prevent all veteran foreclosures. This committee should work closely with organizations like the National Coalition for Homeless Veterans and other experts in the field of housing assistance.

**Several factors contribute to the veteran foreclosure crisis. One key factor is the economic hardships faced by many veterans, including high unemployment rates, underemployment, and financial instability. Transitioning from military to civilian life can be challenging, and veterans may struggle to find suitable employment or experience difficulties adjusting to new careers. These financial difficulties can lead to difficulties in making mortgage payments, putting veterans at risk of foreclosure.  Predatory lending practices have been identified as a significant issue affecting veterans. Some lenders target veterans with high-interest loans or deceptive practices, leading to unsustainable mortgage obligations and an increased risk of foreclosure.

It is crucial for policymakers, financial institutions, and the general public to recognize the sacrifices made by veterans and work towards creating sustainable solutions that ensure their housing stability. Supporting programs and initiatives that provide financial education, employment opportunities, and affordable housing options can help alleviate the veteran foreclosure crisis and provide much-needed assistance to those who have served our country.

It is time that we honor our commitment to those who have served by ensuring they have access to safe, affordable housing. We cannot allow any more veterans to lose their homes or lives due to financial struggles beyond their control. Their lives, and those of their families, matter.  Not just today, but every day.  They answered the call for help when they were called upon, it is time now for this country and Congress to do the same.**