VA Addresses Special Relief Following Hurricane Laura

In Circular Letter 26-20-34, the VA addressed concerns for VA home loan borrowers in the wake of Hurricane Laura.  The VA encourages holders of guaranteed loans to consider the following assistance measures:

• Forbearance;
• Moratorium on Foreclosure;
• Late Charge Waivers; and
• Suspension of credit bureau reporting on affected loans.

The VA also encourages servicers to extend special forbearance to members of the National Guard who experience financial difficulties as a result of their service. 

Finally, the VA encourages servicers and borrowers to review their Guidance on Natural Disasters.