Protecting the Homes of the Brave
Most Americans are thankful to be spending the holiday season gathering at home with friends and family. But some Americans, including tens of thousands of military veterans who bravely served our country, have no home in which to spend the season. Thousands more are a few missed mortgage payments away from foreclosure. In an attempt to tackle that problem, two Congressmen channeled the spirit of Veterans Day by pitching legislation that outlines ways for the Department of Veterans Affairs to reduce and avoid homelessness among veterans.
John Boozman (R-Ark.) and Tim Walz (DFL-Minn.) first shared the bill, the Veterans’ Homelessness Prevention and Early Warning Act of 2010, on September 22, 2010. Two days later it went to the Subcommittee on Economic Opportunity where it is set for review.
The bill calls on the VA to implement new procedures to aid VA loan borrowers facing foreclosure. As soon as a military borrower defaults on a VA loan, the VA has seven days to contact a case manager. Then the case manager takes responsibility. Case managers would then be responsible for coming up with a plan for alternative housing in the unlikelihood that a veteran loses his or her housing. The VA would have to ensure that the case manager fulfilled this weighty task. Read More »
