New Protections for Homeowners with VA Mortgages
A new VA final rule, effective July 27, provides new rights for homeowners exiting a COVID-19 related forbearance program. Forborne payments will not be due until the end of the mortgage term and are interest-free. This article describes both this new right to defer forborne payments and options for homeowners who cannot afford their regular monthly payments that become due after exiting forbearance.