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Volume 11 - Number 5

March 9, 2018

VA Issues Additional Guidance on Hurricane Relief, Other Topics

The Department of Veterans Affairs has issued new guidance on a number of topics, including foreclosure relief in disaster areas, property management and servicing, lenderís payment or credit of veteransí costs, acceptance of properties, redemption procedures, and reconveyance disputes. VA has extended the moratorium on foreclosures in areas that suffered the brunt of hurricanes Harvey, Maria and Irma from 180 days to 270 days to give more time for distressed homeowners with a VA mortgage to recover their financial footing. VA also extended the rescission date of guidance regarding its reconveyance dispute process and servicer statutory redemption procedures from Jan. 1, 2018, to Oct. 1, 2020. VA issued additional servicing guidance on real estate-owned properties and direct loan portfolio (VAís national portfolio), which is currently serviced by ...

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