For Veterans or Servicemembers who have a VA-guaranteed conventional or sub-prime loan, the Department of Veterans Affairs (VA) has a network of eight Regional Loan Centers that can offer advice and guidance during times of financial hardship.
Borrowers may visit the Home Loans Information page, or call toll free -1-877-827-3702 to speak with a VA Loan Technician. However, unlike when a Veteran has a VA-guaranteed home loan, VA does not have the authority to intervene on the borrower's behalf for conventional loans. It is imperative that a borrower contact his/her mortgage servicer as quickly as possible when faced with financial hardship.
Persons who may qualify for VA-guaranteed loans include:
Commissioned Officers of the Public Health Service and National Oceanic and Atmospheric Administration are considered to be active duty members and Veterans, once discharged.
Length-of-service requirements apply, in most cases.