House Our Heroes Act
Sponsored By: Representative Van Orden, Derrick [R-WI-3]
Introduced
Summary
Expanded VA tools to help veterans keep homes. This bill would let the Secretary of Veterans Affairs offer an educational course to veterans with delinquent or foreclosed VA‑guaranteed loans covering credit scores, money management, and loss mitigation options. It would also give the Secretary a limited ability to use the partial claim program and approve loan-term changes for specific missed payments.
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- Veterans and military households: Eligible veterans could get an educational course about credit, budgeting, and loss mitigation and gain another path to avoid foreclosure through partial claims or loan adjustments.
- Borrowers with late payments between May 1, 2025 and Nov 28, 2026: Loans that meet the bill's conditions may be eligible for a partial claim or for approved changes to interest rates, payment timing, security, or other loan terms.
- Department of Veterans Affairs and lenders: The Secretary could act without following the usual sequence in 38 U.S.C. § 3732(d) for these loans, but the authority is limited to loans described in subsection (a) of 38 U.S.C. § 3737 and tied to the specified missed-payment window.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
More VA help for veteran homeowners
If enacted, the VA would be able to make a partial claim on certain VA‑guaranteed loans that defaulted because of a missed payment between May 1, 2025 and November 28, 2026. The VA would be able to act without following the usual order of loss‑mitigation steps and could agree to change interest rates, payment timing, security, or other loan terms to help lower payments or avoid foreclosure. If you are a veteran with a VA‑guaranteed loan that is delinquent or foreclosed, the VA would be able to offer an education course on improving credit, managing money, and loss‑mitigation options. The Secretary would decide whether to run the course, and the bill does not require participation or specify new funding.
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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