Some veterans with a VA loan ran into some recent trouble keeping up with their mortgage payments. The VA has taken action to help veterans – both those who have taken advantage of the Idaho VA loan guaranty program, and those having trouble with traditional mortgages – stay in their homes.

The VA has counselors at nine regional loan centers who have helped thousands of veterans, survivors, and active duty members stay in their homes through financial counseling and special financing arrangements.

The Idaho VA program can intervene with a lender to create options such as forbearance, repayment plans, and loan modifications that can help veterans avoid foreclosure. In dire circumstances, VA counselors can make arrangements to hold off foreclosure until arrangements for a private sale can be made, if the sale of the home will pay off the mortgage.

Deed-in-lieu of foreclosure arrangements may also be made, where the borrower deeds the property to the lender temporarily rather than go through the foreclosure process. VA counselors can even assist veterans with other financial problems.

The VA has developed more ways to improve home affordability for veterans. Contact an Idaho VA loan certified lender to inquire about refinancing a traditional mortgage to a VA guaranteed loan. This process can save you hundreds of dollars in monthly mortgage costs, and offer you additional protection against foreclosure.

If you’d like to contact a VA loan counselor, call 1-877-827-3702 for financial help. If you’re interested in learning how refinancing through the Idaho VA loan program can save you money, visit MyIdahoHomeLoan.com today!

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