April 15th, 2024 by WCBC Radio

The Department of Veterans Affairs is launching a new program that will help vets stay in their homes.

VASP – Veterans Affairs Servicing Purchase – is a last resort tool where the VA will purchase defaulted VA loans, modify them and then place them in the VA-owned portfolio.  Veterans will have a fixed 2.5% interest rate for the remainder of their loan.

More information is on the VA home loans website at benefits.va.gov/homeloans.