Veterans with VA-backed mortgages who are in danger of facing foreclosure just got help from the Department of Veterans Affairs.

The VA is asking mortgage servicers to do two things:

-- Pause foreclosures through May 31, 2024, of VA-guaranteed loans, and

-- Extend the COVID-19 Refund Modification program through May 31, 2024.

During the first step, veterans and the VA will work with those mortgage services to work out solutions.

For the second step, they are going to extend the COVID-19 Refund Modification program so veterans can obtain a zero-interest loan with deferred payments via the VA. Those loans will cover any missed payments and change the loan to come up with affordable payments during the extension period.

During this extension, the VA is going to launch the VA Servicing Purchase (VASP) program. In that program the VA will purchase from mortgage servicers any defaulted VA loans, change the loans and put them in a VA-owned portfolio.

The goal, of course, is to keep veterans in their homes.

Meanwhile, if you’re having trouble making mortgage payments, call 877-827-3702 to talk to a loan tech. There are a number of ways they can help you, including loan modification, repayment plans and getting more time to catch up on missed payments.

Or go to the VA Housing Assistance website (www.va.gov/housing-assistance). On that page, click on “Learn more about how to get help to avoid foreclosure.” Read the whole page. You’ll see information on being careful of offers to help you with your back payments (it might not be genuine), getting counseling help and the six ways you can avoid foreclosure. Note the part about whether you would have to pay back your loan depending on when you closed on the loan (before or after Jan. 1, 1990).

At the bottom of that page note the advisory from the Consumer Financial Protection Bureau about how to spot a foreclosure scam. Getting caught up in one of those is the last thing you need while trying to deal with a potential foreclosure.

(c) 2023 King Features Synd., Inc.