Press Releases

Today, House Committee on Veterans’ Affairs Chairman Mike Bost (R-Ill.), released the following statement after the Department of Veterans Affairs (VA) announced that they will extend a foreclosure moratorium that targets veteran homeowners and their families through December:

“VA’s Home Loan program is a vitally important benefit for veterans and transitioning servicemembers to achieve the American dream of owning a home,” said Chairman Bost. “But as interest rates show no signs of coming down in any significant way, and the cost of living is higher than ever under the Biden administration, VA must do better to ensure veterans remain attractive homebuyers and don’t default on their mortgage payments. While the current foreclosure moratorium being extended does temporarily ensure that veterans will not be foreclosed on, it does not solve the long-term problem. VA must put election year politics aside and find a permanent solution so that we do not jeopardize the integrity of the VA home loan program, veterans can stay in their homes, and we do not evolve into a financial burden of billions of dollars in bailouts for lenders. I look forward to working with the Department to fix their mess through legislation in the coming weeks.”

In February, the Subcommittee on Economic Opportunity held an oversight hearing on the future of the VA home loan program and Subcommittee Chairman Rep. Van Orden (R-Wis.), pressed the Department on their lack of transparency regarding creating the Veterans Affairs Service Purchasing (VASP) Program, which can be viewed here.