US Ends VA Mortgage Rescue, Raising Veterans' Payments
The US government has ended the VA Servicing Purchase program, which helped veterans with home loans. More than 15,000 veterans have seen payments rise by at least $150 after loan modifications. Over 700 veterans have faced an increase of $1,000.
Context
Context: The Department of Veterans Affairs offers home loans to US military veterans. The Servicing Purchase program let the VA buy troubled loans from lenders, helping borrowers keep their homes, so ending it shifts costs back onto individual homeowners.
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