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Veterans Housing Stability: New Tools to Prevent Foreclosure and Home Loss.

This law introduces new mechanisms to protect veterans with VA housing loans from losing their homes. It establishes a "Partial Claim Program," allowing the VA to pay off a veteran's mortgage arrears, converting them into a non-interest-bearing loan due at the end of the mortgage term. Additionally, during crises, the VA Secretary gains power to temporarily halt foreclosures and evictions.
Key points
A new Partial Claim Program allows the VA to cover up to 30% of overdue mortgage debt to prevent foreclosure, with the veteran repaying this amount later without interest.
The VA Secretary can impose temporary moratoria (up to 180 days, extendable) on foreclosures and evictions during national emergencies or major disasters.
Lenders must now follow a mandatory sequence of loss mitigation options before initiating foreclosure proceedings against veterans.
Civil penalties are established for lenders who knowingly make false statements regarding veteran assistance programs.
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Additional Information
Print number: 118_S_3728
Sponsor: Sen. Tester, Jon [D-MT]
Process start date: 2024-02-01
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Summarized by: gemini-flash-latest
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Veterans Housing Stability Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_3728.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2024-02-01.

What are the main provisions?

Key points include:

  • A new Partial Claim Program allows the VA to cover up to 30% of overdue mortgage debt to prevent foreclosure, with the veteran repaying this amount later without interest.
  • The VA Secretary can impose temporary moratoria (up to 180 days, extendable) on foreclosures and evictions during national emergencies or major disasters.
  • Lenders must now follow a mandatory sequence of loss mitigation options before initiating foreclosure proceedings against veterans.
  • Civil penalties are established for lenders who knowingly make false statements regarding veteran assistance programs.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Tester, Jon [D-MT].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

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