Uncle Sam to Cover Your Mortgage?

Q: My spouse was recently ter­mi­nated from her job. Is it true that the VA will cover my mort­gage for up to six months?
–Marc, Mans­field, OH

A: There are a host of pro­grams avail­able through the government’s Mak­ing Home Afford­able pro­gram.  These pro­grams are designed to help homeowner’s take advan­tage of today’s low inter­est rates, avoid fore­clo­sure, and even cope with unem­ploy­ment.  The pro­gram web­site has many of the details.

So check that out or give one of their coun­selors a call at (888) 995‑4673 to see if there are any pro­grams that might help you out given your cur­rent sit­u­a­tion. If you actu­ally have a VA loan, one pro­gram that may be use­ful is called the Vet­er­ans Admin­is­tra­tion Home Afford­able Mod­i­fi­ca­tion Pro­gram. To learn more about this con­tact the VA Regional Loan Cen­ter at (877) 827‑3702.

8 responses to “Uncle Sam to Cover Your Mortgage?”

  1. My hus­band was in the US army 27 years we been mar­ried 50 . Can I buy a house with VA

  2. G

  3. Yes, your hus­band can use his va loan to buy your home

  4. we got a VA home mort­gage loan many years ago. pd. it off. Of course we have had to refi­nance same home a cou­ple times dur­ing these hard times. Want a mod­i­fi­ca­tion loan now and have been approved for another VA. Loan but since we have to go thru a lender that will take us we can’t use the Va. Mod. home mort­gage loan even tho we are oked for it because our CREDIT RATING isn’t high enough, who is these days, What can we do now? gov. Va. Loan thru the Gov­ern­ment doesn’t ask for your credit rat­ing. Need help to keep our home now that we are elderly and dis­abled in our mid/late 60“s. Bot­tom­line we need a lender that will take our “approved Va. Home Loan and our under 600 credit score. Please say there is such a place to help us get our loan thru the VA. Rosie

    1. First Home Mortage in Hager­stown, Mary­land showed me how to raise my credit score twenty points in less than 30 days with almost no money.

      1. Hi Leonette,
        I am curios. Is this First Home Mortage fund­ing your loan or you approached them ask­ing for help rais­ing your score?
        Please for­give me for ask­ing, but I could use help rais­ing my score as well.; with this econ­omy and my hus­band work­ing two to five days a month I can use all the help I can get. Reyna

  5. refiance/modification to VA. loan we are approved for/ but no lender will give us a Va. loan do to our low credit score. I will try the sug­ges­tions but the VA. still says we have to find our own lender/bank to taker the loan. Credit score still too low even tho the Gov. says we have a 100% Guar­enteed Va. Loan avail­able to us/ what do we do now?

  6. Hello
    I’m try­ing to avoid fore­clo­sure, been deal­ing with Wells Fargo since 3/12, they will not accept pay­ments while in loan mod­i­fi­ca­tion process. I’ve been con­tact­ing them every­day for a deci­sion and the agent I’m deal­ing with is unbe­liev­able, I must con­tact another agent to see if there are any items out­stand­ing. Has any­one been through this process. I’m only a year away from pay­ing off my loan.

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Examples given are hypothetical illustrations and not an indication of the benefits or features of any USAA product. You should seek policies and advice based upon your own particular circumstances. Sample loans are for illustration purposes only and are not a rate quote, pre-approval, or commitment to lend.

Scott Halliwell and JJ Montanaro are CERTIFIED FINANCIAL PLANNER™ practitioners with USAA Financial Planning Services, one of the USAA family of companies. Certified Financial Planner Board of Standards, Inc. owns the certification marks CFP® and Certified Financial Planner™ in the United States, which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements.

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