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119-hr-9942119th CongressWALLET

House Our Heroes Act

Sponsored By: Representative Van Orden, Derrick [R-WI-3]

In Committee

Summary

Optional education and temporary loan-term flexibility for veterans with delinquent VA‑guaranteed loans. The bill would add a voluntary borrower-education course covering credit scores, personal financial management, and loss mitigation options. It would also temporarily let the Department of Veterans Affairs use its partial-claim authority and approve targeted loan modifications for a narrow set of delinquent loans.

Show full summary
  • Veterans and families: Would let veterans with a VA-guaranteed loan that is delinquent or foreclosed take an optional course on improving credit, managing money, and loss mitigation options.
  • Lenders and the VA: For loans with a missed payment between May 1, 2025 and Nov 28, 2026, VA would be able to make a partial claim and consent to changes such as interest rate, payment timing, security, or other note or mortgage terms without following the usual sequencing rules.

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 2 benefits, 0 costs, 0 mixed.

More loan relief for veterans

If enacted, the VA Secretary would be able to act for VA-guaranteed chapter 37 loans the Secretary finds defaulted because of a missed payment between May 1, 2025 and November 28, 2026. The VA would be allowed to make a partial claim under current VA law and to agree to change loan terms, including interest rate, timing of principal or interest payments, security, or other terms, without following the usual sequencing rules. These authorities would apply only to loans described in subsection (a) of 38 U.S.C. § 3737. For affected borrowers, these actions would reduce monthly costs or lower the risk of foreclosure.

Optional loan education for veterans

If enacted, the VA Secretary would be allowed to offer an optional course to veterans whose loan guaranteed under chapter 37 is delinquent or foreclosed. The course would cover how to improve a credit score, how to manage finances, and loss mitigation options available for VA-guaranteed loans. The course would be optional and would not itself change loan terms.

Sponsors & CoSponsors

Sponsor

Van Orden, Derrick [R-WI-3]

WI • R

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

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